Slack Files To Go Public

Slack, the tech start-up that made a name for itself by shaking up the way people communicate in the workplace, announced it has submitted its registration for a "proposed public listing" with the U.S. Securities and Exchanges Commission, according to a CNN article.

It has been previously reported that Slack would go public through a direct listing instead of raising new capital a la Spotify last year, according to the article. Unlike a traditional initial public offering (IPO) that entails a months-long selling freeze, a direct filing allows Slack employees and longtime shareholders to sell stock from the jump

The workplace communication platform that functions similar to a chat room with a goal of streamlining processes and eliminating email clutter has raised approximately $1.2 billion from investors and was most recently valued at $7.1 billion, CNN noted. The company said it has 85,000 paid customers worldwide.