Listing Process: Offering Price and Workplace-Messaging Service

listing process: Airbnb could be next - and that could make the direct listing process almost mainstream, according to Global Times China. Once free to trade, Slack's shares soon topped 40 apiece - well above the reference price of 26 provided by the New York Stock Exchange on June 19, though that doesn't carry the kind of weight an initial public offering price does. The workplace-messaging service's direct listing turned into a blowout when its shares started trading on Thursday. At 40 a share, the company is valued at an eye-watering 24 billion based on a share count including options and stock awards, more than three times its worth in a private fundraising just a year ago. The negatives are a huge cash burn, a lack of profit and vulnerability to rivals like software titan Microsoft. Slack, which wraps up chat and other functions like sharing spreadsheets, is popular and revenue is growing at a fast clip, nearly doubling to 400 million for the year ended in January. (news.financializer.com). As reported in the news.