Slack is approaching its direct listing with strong revenue growth and a
near doubling of its enterprise value to $12 billion in the past year,
according to a new
report from SharesPost.
As a first mover in the workstream collaboration market, Slack has a
significant opportunity to win new business from enterprise-class
companies and to solidify its market leadership, the analysis found. The
company has 10 million daily active users and reported $400 million in
revenue in fiscal 2019. Slack’s revenue jumped nearly 100%
year-over-year from fiscal 2018.
At the same time, Slack has yet to generate a profit, and paying clients
represent only 14% of its entire installed based. Additionally, the San
Francisco-based firm, which is set to launch its direct listing on June
20, is proceeding in the wake of the underperforming IPOs of Uber and
“Slack clearly has momentum as it approaches its public market debut,”
said Alejandro Ortiz, Principal Analyst, SharesPost, Inc. “Lyft and Uber
may have had challenging starts with their IPOs, but the more relevant
IPOs are other enterprise software companies such as Zoom, PagerDuty,
Fastly, and Crowdstrike, which recently publicly filed its S1 to go
Slack has raised over $1.3 billion in primary funding from investors,
including SoftBank Group, Accel Partners, Andreessen Horowitz, and
Kleiner Perkins. Slack is SoftBank’s Vision Fund’s first enterprise
software company exit.
About SharesPost, Inc.
SharesPost is a FINRA-registered broker-dealer, SEC-registered
Alternative Trading System (ATS) and Registered Investment Advisor.
SharesPost helped launch the secondary market for private tech companies
in 2009 and has built the leading platform for secondary transactions
and digital securities. SharesPost provides the private tech asset class
with a suite of trading and lending solutions to facilitate shareholder
and option holder liquidity. With nearly $5 billion in secondary market
transactions in the shares of more than 250 leading technology
companies, SharesPost provides the trading, research and online tools to
transact in the private market with confidence. SharesPost has trading
operations with licensed brokers in San Francisco, Menlo Park, and New
York City. For more information, visit sharespost.com.
Any securities offered are offered by SharesPost Financial Corporation,
a member of FINRA/SIPC. SharesPost Financial Corporation and SP
Investments Management are wholly owned subsidiaries of SharesPost Inc.
Certain affiliates of these entities may act as principals in such
Investing in private company securities is appropriate only for those
investors who can tolerate a high degree of risk and do not require a
Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements. These
statements include, but are not limited to, statements about research on
late-stage, venture-backed companies. SharesPost cautions that these
statements are not guarantees of future performance. Actual results may
differ materially from those expressed or implied in the forward-looking
statements. Forward-looking statements involve a number of risks,
uncertainties or other factors beyond SharesPost’s control. SharesPost
undertakes no obligation to release any revisions to any forward-looking