The workplace chat is ready to go live on the New York Stock Exchange after hitting 10 million daily users
Slack filed with the Securities and Exchange Commission today to go public under the symbol “SK.” The public offering won’t raise money for Slack; it’ll just allow existing shareholders to begin selling their stock.
As reported in its filing, Slack has more than tripled its revenue within the last 3 years to over $400 million. But, the company has been losing money all this time, but the losses are shrinking at a much slower rate, falling to $138.9 million in the most recent fiscal year from $146.9 million two years earlier.
Slack has 10 million daily users across more than 600,000 organizations with the majority — more than 500,000 are using Slack’s free tier. The company says the offering is designed to convince organizations to eventually start paying. There are around 88,000 paying organizations as of January 31st, up from 59,000 a year earlier.
Slack chat serves all forms of businesses and organizations
Slack is a tough place, forcing over 500,000 organizations to pay is a huge task considering there are other workplace chat platforms to use. Migrating a company to switch communications method is fairly easy fix, heck – worst case scenario companies can go old school and send email!
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