Slack Technologies Inc. is planning to make its stock exchange debut through a direct listing, The Wall Street Journal reported Jan. 11, citing people familiar with the matter.
The operator of an instant-messaging and collaboration app will likely debut in the second quarter of the year, the report said, while noting that these plans were not yet solidified and could change.
The company was recently valued at about $7 billion.
A direct listing would make Slack the latest big technology company to bypass a traditional listing after Spotify Technology SA did the same. Under this process, a debuting company sells shares directly to the public without the assistance of any intermediaries.