(Reuters) – Slack Technologies Inc is planning to go public through a direct listing, the Wall Street Journal reported on Friday, citing people familiar with the matter.
Slack, which operates a popular workplace instant-messaging and collaboration app, is likely to debut in the second quarter and currently expects to do so via a direct listing, according to the report. (https://on.wsj.com/2CfAYGp)
The plan for direct listing will potentially make Slack the second big technology company after Spotify Technology SA <SPOT.N> to bypass a traditional IPO, WSJ reported.
Slack had hired investment bank Goldman Sachs Group Inc <GS.N> to lead its initial public offering as an underwriter, Reuters had reported in December.
Slack did not immediately respond to a request for comment outside regular business hours.
(Reporting by Bhanu Pratap in Bengaluru; Editing by Shounak Dasgupta)