Slack, the online chat company, went public on the New York Stock Exchange today. Slack is used primarily in the workplace, as a messaging tool connecting individual colleagues or groups.
The company has built a brand around being fresh and unconventional. Users can create "channels" for different projects or teams or quirky groups, such as all the employees in an office who bike to work, or the co-workers who only want to send pictures of their dogs.
Companies that go public usually use an initial public offering — an IPO — to sell their shares. But Slack decided to remain true to its brand identity and take an unconventional approach, using something called a DPO — a direct public offering.
Today on The Indicator, why Slack, now valued at more than $20 billion, decided to get onto the stock market in this unusual way.
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