![]() ![]() In an IPO, the lead underwriters take orders from investors and raise the price for the offering based on demand, while also typically baking in a first-day pop. The secondary trades can give Slack some visibility into what investors are willing to pay, because with a direct listing, there's a less formal system for price discovery. This approach means the company doesn't raise money but allows existing investors to convert their private shares to public stock and sell it without the traditional lock-up restrictions. Rather, Slack is following Spotify's lead and directly listing its shares. Slack, whose cloud-based messaging software lets employees communicate and collaborate, is preparing to go public on the New York Stock Exchange, but not through a typical IPO. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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