One of the latest tech start-ups to join the stock market has recorded a surge of shares.
The messaging app Slack saw shares rise by 49% last week. The team organiser initially set a guide price of $26 a share. However, it rose by 60% at the start of trading and eventually finished at $39.
The BBC reports that Slack opted for a direct listing on the stock market. This saw them rejecting traditional advisers and underwriters who usually manage the monetary value of new stocks.
Another tech giant, Spotify, also chose to take this approach in the past. It clearly worked for them, and it looks like Slack may enjoy the same success. However, industry experts have told the BBC that “the jury is out” on whether this is best practice.
Because of this there was a chance of “wild swings” in the price, while traders endeavoured to assess where it would end up.
Essentially, the share price jump saw the value of Slack initially come in at $25billion. To find out more about this development, click here.
What’s all the hype behind messaging app Slack?
Slack groups messages around teams, projects and subjects. This means A LOT of irrelevant or needless emails can be cut out.
Google, LinkedIn, HSBC and Ford are among the big names putting their communication and trust in Slack. They’re by far not alone either, the messaging app has more than 100,000 paying customers.
Slack recently featured on our list of our favourite Five Free Messaging Apps for Windows 10 users.
During the article we explained why Slack is incredibly popular with working teams of all sizes. We also described how the messaging platform means people can collaborate on projects more effectively.
How do you use Slack?
Users can create a team in Slack, and then log in to hold group or private chats, share data and links with each member of that team and discuss the project together. All of the communications that are held on Slack are grouped into different Channels, and everything that is created is searchable.
- Project-friendly structure.
- Collaborate with teams.
- Create chat channels with their own permissions.
- Add bots and auto moderators.
- Integrate with other tools.
- Share files.
- Task list management.
Slack organises team conversations into open channels. The great thing about using channels is they can be utilised by everyone; all users have a transparent view of all its aspects. If you have sensitive information to discuss, users can create private channels and invite only the team members you choose.
A really useful feature of Slack is the file sharing capability. You can drag and drop files, documents, PDFs, images, and videos to share with anyone and get immediate feedback and discussion via comments. You can also star it for later reference, and all data is completely searchable.
Messaging app Slack has been valued at around $16bn
It's one of several tech giants, including Uber and Lyft, going public this year – but plenty of companies which are valued at billions are yet to make a profit@collettasmith explains why https://t.co/clsW4uVWyd pic.twitter.com/2bCczQAsTd
— BBC Business (@BBCBusiness) June 20, 2019
Overall, Slack is a superb service that allows teams to communicate in real time together. It offers support for private groups and 1:1 direct messaging. So, no matter what device or platform a team member may be using, they are always able to keep up.
With advanced features including encrypted messaging, and over 100 integrations, with an open API to build more, it’s no wonder Slack is highly respected communications solution.
So, there you have it. Slack is fast becoming an established and trusted messaging solution. Now it’s on the stock market, who knows what the future holds for this start-up.
To find out more information about Slack and how you can download it today, click here.
As ever, stay tuned to our FileHippo News Blog to keep updated on all things to do with tech.