San Francisco-based Slack Technologies Inc. Filed for its initial public imparting Friday, becoming a member of a parade of tech corporations going public—and preserving California deal in 2019.
Rather than going through a traditional public imparting, Slack plans on going public via a direct listing at the New York Stock Exchange underneath the image SK.
Goodwin Procter is felony adviser for Slack on the IPO, while the financial advisers and different partner advisers are represented by Latham & Watkins, according to Slack’s S-1 filed with the U.S. Securities and Exchange Commission. According to the filing, Slack is running with Allen & Co. LLC, Goldman Sachs Group Inc. And Morgan Stanley on the percentage sale.
Leading on Slack’s list is Goodwin capital markets exercise co-chair Richard Kline, who joined the firm in 2011 from Wilson Sonsini Goodrich & Rosati.

Kline has been lead felony adviser for other era organizations and their underwriters in several recent high-profile public offerings, which includes JPMorgan in Lyft’s $2.6 billion IPO last month and The Goldman Sachs Group and Morgan Stanley in Snap Inc.’s $three.Four billion IPO in 2017.
David Van Horne, a generation partner, and commercial enterprise regulation branch chief for Goodwin’s San Francisco workplace, who joined the firm in 2013 from Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, is also working with Kline on the list, alongside partner Sarah Axtell.
Slack recorded $four hundred million in sales and $139 million in losses in the yr finishing Jan. 31, it’s submitting confirmed. The workplace messaging business enterprise was valued at $7.1 billion in its cutting-edge round of funding returned in August.
In its list, Slack will provide a twin-magnificence stock structure wherein Class A commonplace inventory can have one vote in line with share whilst bought, while Class B could have 10 votes according to percentage.
As of January, the San Francisco-based totally tech organization had extra than 10 million active everyday customers international with 88,000 paid clients, up almost 50 percent from the yr prior, in keeping with the submitting.