Slack closes at $38.62, up 48.5% from its $26 reference price, on its first day of trading, valuing the company at about $20B

for Now Reuters : Slack stock surges at debut, values company at more than $25 billion Thomas Franck / CNBC : Slack CEO explains why the company didn't go public with a traditional IPO Shawn Knight / TechSpot : Slack shares surge in successful stock market debut Shira Ovide / Bloomberg : Slack Leads Bottom-Up Evolution in Corporate Tech PYMNTS.com : Slack, Like Spotify, Chooses Direct Listing To Go Public Matt Lundy / Globe and Mail : Why Slack didn't need a traditional IPO Megan Hernbroth / Business Insider : Slack, the newly-public chat app worth about $20 billion, has a hidden meaning behind its name Natalie Gagliordi / ZDNet : Slack surges to $23 billion valuation in public market debut Kleiner Perkins : Slack: it's where work happens James Titcomb / Telegraph : Slack shares jump 60pc to value office chat service at $25bn Tweets: Leslie Picker / @lesliepicker : $26 was Slack's reference price, meaning shares weren't sold at $26, therefore no one made a quick 49% return in one day. The shares opened at $38.50, rose as high as $42 and ended the day at $38.62. So unless you were a private investor, you made no more than 9% today Aaron Levie / @levie : 10 years ago, the combined public market caps of bottom-up, user-led enterprise software companies was $0. Today, it's $100B+. Amazing how much this industry has changed in under a decade. Stewart Butterfield / @stewart : Source of today's biggest smile :) pic.twitter.com/BRaaXociUx L.V. Anderson / @lv_anderson : i talked to @jwherrman about the time i got radicalized on slack https://www.nytimes.com/... https://twitter.com/... Erin Griffith / @eringriffith : There it is - Slack opens at $38.50 per share - giving it a market cap of more than triple its last private valuation Tom Maxwell / @tomaxwell : “At a first-day market cap of $16 bn, Slack would give LinkedIn CEO Jeff Weiner, Twitter's Biz Stone, Path's Dave Morin and other early investors returns of 1600 times their initial capital. Each $25,000 they invested would now be worth about $40 million.” https://www.forbes.com/... Sally Shin / @sallyshin : Just learned that Slack was an acronym 🤷🏻‍♀️ Searchable Log ofAll Conversation and Knowledge 🤯🤯🤯 Peter Kafka / @pkafka : After http://dot.com/ 1.0 we all agreed that “IPO as a marketing event” was a terrible idea. But it seems like many people who have never heard of Slack before will hear about it today. John Herrman / @jwherrman : i for one welcome a world in which we talk about work by complaining about The Logs https://www.nytimes.com/... Leslie Miley / @shaft : 1/ Today @slackhq went public. Many people of color, including myself earned some financial breathing room. I want to acknowledge the hard work they did to put themselves in this position. However I feel very empty after $WORK #SlackIPO #Slack Aaron Klein / @aaronklein : Sounds like a dream, right? This creates huge pressure on the management team to deliver growth worthy of that multiple. Huge congrats to Slack nonetheless...amazing company and product, and we can't imagine life without it. https://twitter.com/... Scott Willis / @scottw_grizzle : Slack ($WORK) Direct Listing Fun Fact: 50% of shares can be sold by insiders tomorrow. Typical IPO has 15% of shares free trading. To see why we still think the stock is going to $80 (3x) see our full guide: https://bit.ly/2RpGzRr pic.twitter.com/fZRey8OgRB Arielle Pardes / @pardesoteric : Slack won't “kill” email. (For me, it doesn't even reduce the amount of email I send or receive.) Slack does something different—puts the watercooler on your screen—in a way that's both genuinely good for office camaraderie and a total productivity killer. https://www.nytimes.com/... @business : LATEST: Slack opens on the NYSE at $38.50. CEO Stewart Butterfield explained why the company chose a direct listing over a traditional IPO: It didn't need the cash https://bloom.bg/2Xwsbg0 Alex Konrad / @alexrkonrad : Surprising big winners in Slack's direct listing today: the CEOs of LinkedIn, Squarespace and Stripe, a Twitter cofounder. I looked into “Silicon Valley's greatest strength and Achilles heel”: tech CEOs who help anoint — and profit from — each other. https://www.forbes.com/... Eddy Elfenbein / @eddyelfenbein : Slack by the numbers users = 90 million users paid customers = 100,000 market value = $25 billion https://www.reuters.com/... Ben Bajarin / @benbajarin : Slack set the trend of blending consumer software feel with an enterprise focus. This is the right approach since all workers are also consumers and quality UX will increase usage and engagement. Congrats @stewart! https://twitter.com/... Anne Helen Petersen / @annehelen : I don't know if it's just BuzzFeed but ever since we really internalized that even private Slacks are discoverable, all the real talk happens off-Slack: https://www.nytimes.com/... @nytimes : As Slack prepares to go public, some of us are still figuring out how available we want to be for bosses and coworkers https://www.nytimes.com/... Hanson O'Haver / @hansonohaver : what's cool about slack is you still need email—for things from outside the company at the very least, and also longer messages—so now you just have twice as many things to worry about https://www.nytimes.com/... Aaron Levie / @levie : Congrats @SlackHQ and @stewart on the amazing IPO 😎🍾🎉. $work has helped define and shape a new era of enterprise software, and we're still just in the early innings. Don Richard / @donaldrichard : Slack's IPO is first time on here that I'm seeing more than 1 or 2 black folks secure the bag because their employer is going public. Ashley Mayer / @ashleymayer : It feels like all of Silicon Valley is here for the Slack IPO. HI FRIENDS WELCOME!! @slackhq : It's a milestone day for us, but also a day of thinking about work. About ours, and yours, how grateful we are that you let us be part of your working day, and how we can continue to try and make it better. Soppy? Perhaps! But still true. http://bit.ly/2KtDGyG Steve Kovach / @stevekovach : Slack is now a $20 billion company https://www.cnbc.com/... @hunterwalk : Wow, pretty cool Easter Egg for Slack's IPOIf you type the age you lost your virginity into your team slack channel today with /IPO you get a free share of Slack stockI tried it and it worked!!! RT for free stock M.G. Siegler / @mgsiegler : 👏 🔔 $WORK https://twitter.com/... Owen Williams / @ow : I remember thinking this chat thing would be huuuuge when I first signed up. Happy IPO day, Slack friends! https://www.npr.org/... @can : A true SV “woah” moment for me. We once shared a warehouse wall with Slack folks, when they were still doing the Glitch thing. Vaguely remember them (Stewart?) showing us their IRC-like chat app they were building on the side https://www.npr.org/... Dan Primack / @danprimack : 3 Slack un-IPO thoughts before heading to 6 Flags to ride coasters w/ E: 1/ As with Spotify, the success/failure here is all about volatility (or lack thereof). 2/ They got a great day to list, like the bizarro Uber. 3/ Airbnb is watching VERY closely.

CNBC 2019-06-21 Lauren Feiner