Bloomberg Law
Jan. 11, 2019, 7:50 PM

Slack Said to Plan for Direct Share Listing Instead of IPO

Olivia Zaleski
Olivia Zaleski
Bloomberg News

Slack Technologies Inc. plans to forgo a traditional initial public offering and instead intends to sell its shares to bidders in a direct listing, a person familiar with the matter.

The messaging platform company is choosing the unusual method for going public because it doesn’t need the cash or publicity of an IPO, said the person, who asked not to be identified because the information wasn’t public. Slack hasn’t filed with U.S. regulators for the listing yet and it’s unclear when it will because of the continuing shutdown of the federal government, the person said.

The share sale, which might ...