Slack stock surges at debut, values company at more than $23 billion

By Carl O'Donnell and Joshua Franklin NEW YORK (Reuters) - Shares of Slack Technologies Inc, the fast-growing workplace messaging and communication platform, soared nearly 50% in their public trading debut on Thursday, valuing the company at more than $23 billion. The strong performance helped validate the unusual direct listing model the company used to go public as well as underscoring investor demand for business software makers. The stock closed at $38.62, compared with the New York Stock Exchange's reference price of $26 apiece

The post Slack stock surges at debut, values company at more than $23 billion appeared first on Firstpost.

from Firstpost