小蓝视频色情网页版

Shares of work messaging and productivity company shot up in the company’s first day on the public markets, topping $40 a share in midday trading. That’s a jump of more than 50 percent from the $26 a share reference price that the company set late Wednesday for its direct offering on NYSE. Shares opened at $38.50.

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The company, trading under the ticker symbol WORK, is now valued at more than $23 billion. That’s well over Slack鈥檚 reported private valuation of $7 billion, following a $427 million Series H last August led by and . That valued Slack at just over $7 billion, post-money.

Shares in the San Francisco-based company had previously been trading privately in the range of $21 to $31.50, 听辫谤辞蝉辫别肠迟耻蝉.

As we reported yesterday, Slack鈥檚 direct listing is an uncommon way to enter the public market.

It’s a different path from a traditional IPO process, which helps companies raise funding by selling shares on the public markets.聽 A traditional IPO also provides additional聽 support from investment bank underwriters to make sure you don’t tank and aren’t further diluting yourself. However,聽 it鈥檚 a long, exhausting process with lots of fees.

, a partner and National IPO Services Leader with Deloitte, said that a company might opt for a direct listing because it doesn鈥檛 believe it鈥檚 in urgent need of cash, whether it has a lot in the bank or is just cash flow positive.

Daniels mentioned that 鈥渢his used to be something bad companies did, companies that were not able to do an IPO, they鈥檇 do [direct list] as a way to go ahead and go public.鈥� The risk with this path is volatility.

鈥淵ou don鈥檛 have the underwriters, roadshows, the test-the-waters meetings which give you a real indication for what the price should be,鈥� he said. But now, as the market stays excited for tech companies showing any growth, he said 鈥渞isk is very limited.鈥�

Based on Slack鈥檚 previous valuation, the company has been compared to high growth startups like Zoom and Pagerduty. Both are currently trading above their opening price. More when Slack closes for the day.

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