SAN FRANCISCO--(BUSINESS WIRE)--Slack is approaching its direct listing with strong revenue growth and a near doubling of its enterprise value to $12 billion in the past year, according to a new report from SharesPost.
As a first mover in the workstream collaboration market, Slack has a significant opportunity to win new business from enterprise-class companies and to solidify its market leadership, the analysis found. The company has 10 million daily active users and reported $400 million in revenue in fiscal 2019. Slack’s revenue jumped nearly 100% year-over-year from fiscal 2018.
At the same time, Slack has yet to generate a profit, and paying clients represent only 14% of its entire installed based. Additionally, the San Francisco-based firm, which is set to launch its direct listing on June 20, is proceeding in the wake of the underperforming IPOs of Uber and Lyft.
“Slack clearly has momentum as it approaches its public market debut,” said Alejandro Ortiz, Principal Analyst, SharesPost, Inc. “Lyft and Uber may have had challenging starts with their IPOs, but the more relevant IPOs are other enterprise software companies such as Zoom, PagerDuty, Fastly, and Crowdstrike, which recently publicly filed its S1 to go public.”
Slack has raised over $1.3 billion in primary funding from investors, including SoftBank Group, Accel Partners, Andreessen Horowitz, and Kleiner Perkins. Slack is SoftBank’s Vision Fund’s first enterprise software company exit.
About SharesPost, Inc.
SharesPost is a FINRA-registered broker-dealer, SEC-registered Alternative Trading System (ATS) and Registered Investment Advisor. SharesPost helped launch the secondary market for private tech companies in 2009 and has built the leading platform for secondary transactions and digital securities. SharesPost provides the private tech asset class with a suite of trading and lending solutions to facilitate shareholder and option holder liquidity. With nearly $5 billion in secondary market transactions in the shares of more than 250 leading technology companies, SharesPost provides the trading, research and online tools to transact in the private market with confidence. SharesPost has trading operations with licensed brokers in San Francisco, Menlo Park, and New York City. For more information, visit sharespost.com.
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Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements. These statements include, but are not limited to, statements about research on late-stage, venture-backed companies. SharesPost cautions that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond SharesPost’s control. SharesPost undertakes no obligation to release any revisions to any forward-looking statements.