FIRST AIRED: June 20, 2019

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COMING UP:Share Opener Variant 3

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Transcript

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a strong showing for slack the workplace messaging platform made its trading debut on the New York Stock Exchange Thursday the stock began trading at thirty eight fifty a share valuing it at more than twenty three billion dollars that's well above the sixteen billion dollar reference point set by the stock exchange slack use a rare direct listing instead of a traditional IPO which means it does not raise fresh funds but the direct listing offer slack an opportunity to float shares without paying hefty investment banking fees last April music streaming service Spotify use the direct listing method which was perceived as a success at the time earlier this month slack which competes with platforms like Microsoft teams said it expects fiscal twenty twenty revenue to grow as much as fifty percent yet it anticipates a loss for the year