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Soft has filed to become public via a direct list. Like what Spotify did last year, this means the company will not have an IPO, but instead will allow existing shareholders to sell their shares to investors.
The company's S-1 filing indicates that it plans to make $ 100 million worth of shares available, but that's probably a fictional figure.
The S-1 offers data on the financial performance of the company, reporting a net loss of $ 138.9 million and a turnover of 400.6 million dollars for the fiscal year ended January 31, 2019. This loss is compared to a loss of $ 140.1 million for a business turnover of $ 220.5 million for the fiscal year . before.
The company attributes these losses to its decision "to invest in the growth of our business in order to take advantage of market opportunities", and notes that they are decreasing as a percentage of revenues.
Slack also states that during the three months ending January 31, it had more than 10 million daily active users in more than 600,000 organizations – 88,000 on the pay plan and 550,000 on the plan free.
In the ranking, the company reports that the Slack team created the product to meet their own collaboration needs.
"Since our public launch in 2014, it has become clear that organizations around the world have similar needs and are now finding the solution with Slack," he says. "Our growth is largely due to word of mouth recommendations. Uncontrolled use within organizations of all types is usually motivated by bottom-up, end-users. Despite this, we (and the rest of the world) still have trouble explaining Slack. It's an operating system for teams, a hub for collaboration, connective tissue throughout the organization, and so on. Basically, there is a new layer of business technology stack in a category still being defined. "
The company suggests that Slack's total market opportunities and other collaborative workplace software makers rise to $ 28 billion. She plans to develop strategies such as extending her footprint within organizations already using Slack, investing in more business features, international expansion and the developer growth. ecosystem.
The risk factors mentioned in the document seem very attractive and / or similar to those of other Internet companies that have become public, such as the net losses mentioned above and the fact that its current growth rate may not be sustainable, as well as new ones. risks of compliance with the European GDPR.
According to Crunchbase, Slack has already raised a total of $ 1.2 billion in financing from investors such as Accel, Andreessen Horowitz, Social Capital, SoftBank, Google Ventures and Kleiner Perkins.
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