Slack’s IPO Kicks off the Future of Work
I’m writing you today from a farm overlooking a creek in beautiful Joelton, Tennessee.
The air’s fresh, the bacon and eggs are local and delicious and the Wi-Fi’s fast.
See, I’m working remotely — watching the markets like a hawk, while watching an actual hawk circling the creek outside my office window.
This is the future of work.
Technology’s creating a huge workforce of folks who are no longer tied to an office or specific workplace. Face-to-face interaction will always be valuable, but new audiovisual workforce communication platforms are making it easier to get together.
No more expensive flights or long commutes to centralized offices. You just dial up your staff or your boss through an app or web-based system.
And this helps employee retention and satisfaction, as employees value the flexibility and time savings that come from skipping the commute.
According to a survey by ADP, 81% of workers said they love the idea that employees can work from anywhere. And 78% like the idea that employees can define their own schedules.
Research shows that workers who can build flexibility into their workdays tend to be more productive — which is good for everyone.
But this mega tech trend isn’t just a great new development for workers and companies. It also presents a tremendous investment opportunity.
Tap Into Workplace Game-Changers on the IPO Front
Right now, I’m communicating with the Bold Profits team via Slack.
If Slack Technologies Inc. isn’t familiar to you, it has a platform I consider the perfect vehicle for workplace communication. It’s an all-in-one system that combines email, document creation and sharing, live chat, calls and videoconferencing.
Within our organization, it serves as the central hub of communications, as it does with many of the fastest-growing tech companies.
The company’s product loyalty shows in its business results. And Slack’s hotly anticipated initial public offering (IPO) launched on the New York Stock Exchange on Thursday, under the symbol WORK.
Slack opted for a direct listing rather than a typical IPO, where a company hires investment bankers to stage a “road show” to build excitement ahead of public listing.
Direct listings can be volatile. They lack the typical “lockup period” enforced by traditional IPOs. So as soon as the stock starts trading on the public market, pre-IPO investors are free to dump their shares.
But we like Slack. We think it’s one of the leaders in the Future of Work mega trend I’m following.
Another player in this space my team and I also utilize on a regular basis is Zoom Video Communications Inc. (Nasdaq: ZM).
Zoom recently went public. It popped 83% on Day 1 and is now up 184% since its April IPO.
My team and I love using Zoom’s videoconferencing products — they’ve proven invaluable in connecting us across offices that span the East Coast from Florida to New York.
One last Future of Work IPO to watch is WeWork.
WeWork Companies Inc. has filed for IPO and is expected to go public this year. When it does, it will be the largest IPO since Uber. The company is currently valued at $49 billion.
All week, my team has been sharing insights into the IPO market. We’ve named names and let you in on the metrics we use when vetting IPOs.
On Saturday, watch your email for a video from me on four rock-solid metrics that, when used together, can determine which IPOs have the strongest chance of success.
To catch up on any of the insights you may have missed this week, visit www.IPOFortunes.com.
Your Bold Profits Team