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6/20, 6:09 PM (Source: TeleTrader)
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Slack debuts at $38.5, 48% higher than set share price

The cloud-based workplace messenger Slack Technologies Inc. started trading at $38.5 on the New York Stock Exchange on Thursday, 48% higher than the previously set price range. The company began its market debut via a direct listing under the ticker WORK, without issuing any new shares.

San-Francisco-based Slack previously reported its revenue for the first quarter of 2019 grew 67% compared to the same period last year, to stand at 134.8 million. However, the company's quarterly loss increased 28% as well, from $24.8 million to $31.9 million.

In a regulatory filing, the company said has over 95,000 paying customers with more than 10 million daily active users.

Breaking the News / MD