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Should you sell slack stock1/15/2024 "Any piece of software like this is an evolutionary product, and the more feedback they get they'll just add more features," Bajarin said. "We could have used standard messaging systems, but they're not designed for collaboration and the kind of workflow that a lot of companies use them for," he said.īut with anything people spend several hours a day on, there have complaints by some, who say it can be confusing to navigate between channels and doesn't actually save much time. And unlike internal corporate messaging systems, Slack makes it easier for teams in different companies to collaborate on the same platform.Ĭreative Strategies president Tim Bajarin said his firm started using Slack about five years ago. New employees can see what's already been discussed and shared rather than join a conversation mid-stream. With Slack, users start "channels," or a group chat with a specific topic. The service aims to replace traditional work communication such as email and instant messaging. Slack launched publicly in 2014 and was quickly adopted by many workplaces, particularly in tech and media. In such cases, a company doesn't hire underwriters or sell new shares to raise money it simply lists existing shares. Slack's IPO is using an unusual approach known as a direct listing. That's 49% above the $26 reference price set by the exchange based on an analysis of recent trading activity among a more limited number of investors in the private market. Shares in Slack debuted on the New York Stock Exchange at $38.50 and rose slightly to close at $38.62. While some such as Uber hit a few potholes on their opening day, companies focused on business services appear to be doing well. Slack's debut is the latest in several highly anticipated initial public offerings of stock for tech companies. The work messaging service grew 49% in value after its stock started trading Thursday under the ticker "WORK." NEW YORK - Slack's newly public shares aren't slacking off.
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