Workplace Disruptor Set for IPO — How to Invest
Many of us are creatures of habit.
There’s probably at least one routine task in your daily life that you successfully complete without thinking twice.
For me, one of those tasks is logging into Slack each workday.
Simply put, Slack is a workplace messaging powerhouse.
It stands for: Searchable Log of All Conversation and Knowledge.
Slack is a collaboration software that allows teams to work together and solve problems fast.
Personally, Slack has transformed the way I interact with Paul Mampilly, Ian Dyer and all the integral members of the Bold Profits team.
With Slack, Paul, Ian and I can communicate in real time.
We still use traditional email. But for lightning-fast interaction, Slack is our go-to communication platform.
The software is so seamless it makes us feel like we’re all in the same room even though we’re in different locations.
We debate, share ideas, post news links, answer team-related questions and upload charts, graphics and files … all without a second’s delay.
My experience with Slack’s online platform has been top-notch.
And I’m not alone in that assessment.
Slack, founded in 2013, started with 8,000 customers.
By 2015, the company touted 1 million daily active users.
Today, Slack has over 10 million daily active users and more than 85,000 customers across 150 countries.
So, in five short years, Slack has grown its customer base more than 960%.
And the company currently touts 65 Fortune 100 companies as customers.
Companies such as Oracle, E-Trade, Starbucks and Target all use Slack for their workforce.
Though the relatively new company is still operating with some losses, Slack posted revenues of approximately $134 million, up 66% from $81 million in the first quarter of 2018.
Slack’s IPO Debut
While I was writing this article, Slack officially announced its initial public offering (IPO).
If all goes well, its IPO is set for June 20.
This IPO will be a direct listing on the New York Stock Exchange.
Valued at more than $7 billion, the company will trade under the ticker SK.
One of the company’s goals is to replace email within companies across the globe.
Per reporting from TechCrunch, Slack co-founder and CEO Stewart Butterfield put it this way:
People deserve to do the best work of their lives. This desire of feeling aligned with your team, of removing confusion, of getting clarity; the desire for support in doing the best work of your life; that’s universal, that’s deeply human. It appeals to people with all kinds of roles, in all kinds of industries, at all scales of organization and all cultures. We believe that whoever is able to unlock that potential for people … is going to be the most important software company in the world. We aim to be that company.
In the meantime, while Slack prepares for its IPO debut, a promising way to participate in the IPO boom we’re seeing right now is the Renaissance IPO ETF (NYSE: IPO).
This exchange-traded fund (ETF) provides investors with exposure to newly public companies.
Until next time,
Director of Investment Research, Banyan Hill Publishing