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Work messaging app Slack to go public Thursday

Published  June 19, 2019 1:27pm PDT
News
KTVU FOX 2

SAN FRANCISCO (AP/KTVU) - San Francisco-based work messaging platform Slack is going public Thursday under the ticker symbol WORK. 

In documents posted with the Securities and Exchange Commission, Slack Technologies Inc. says it posted a loss of $138.9 million on revenue of $400 million in the fiscal year ended Jan. 31, 2019.

In February, Slack filed a draft registration statement with the SEC. Slack is pursuing a direct listing rather than a regular initial public offering. In a direct listing, a company doesn't hire underwriters or sell new shares, just existing shares. 

Slack's IPO comes after Pinterest, Lyft, Uber, Postmates and Zoom went public.