Slack is planning to go public in 2019

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Slack is planning to go public in 2019

Slack is planning to go public in 2019, The Wall Street Journal reported and a person familiar with the matter confirmed to Business Insider.

The initial public offering is scheduled to take place by fall 2019 and could value Slack at about $7 billion, The Journal reported, citing sources familiar with the company’s plans.

A representative for Slack said the company does not comment on “rumors and speculation.”

In 2017, Slack CEO Stewart Butterfield told Bloomberg that an IPO was still a long way off. The company in August closed a $427 million funding round, led by Dragoneer Investment Group and General Atlantic, that valued it at more than $7 billion.

The Journal’s sources said that while the San Francisco-based company has yet to hire underwriters, it is actively preparing to go public.

Slack was founded in 2009. Its popular work-chat software is estimated to be used by 8 million people daily.

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