Slack has officially begun the process to public. The workplace collaboration platform confidentially submitted a registration statement with the US Securities and Exchange Commission related to its much anticipated debut on the public market. In a press release, Slack said its public listing "is expected to take place after the SEC completes its review process, subject to market and other conditions".
Slack is expected to follow the footsteps of Spotify and pursue a direct listing.
Since April 2014, Slack -- which says it now has 10 million daily active users and 85,000 paying customers -- has raised more than $1 billion in total funding. Its last round secured $427 million in venture financing and gave the company a post-money valuation of $7.1 billion.
Slack competes with Microsoft Teams and a bevy of incumbents and recent entrants to the workplace collaboration space. One of Slack's key differentiators is that works across platforms, letting users do most of their work in one place via plug-ins. The company last year acquired the intellectual property of Atlassian's Stride and Hipchat platforms in an effort to defend its market share against larger rivals.
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