Slack, workplace-messaging app firm, going public

NYSE President on the strong IPO market

NYSE President Stacey Cunningham on the state of the IPO market this year.

Slack Technologies Inc. is preparing to make its public trading debut, and is targeting an initial public offering (IPO) in the first half of 2019, according to a report by the Wall Street Journal.

People familiar with the matter told the Journal that Slack, widely used by corporations for intra-office communications, expects a valuation in excess of $7 billion, the value pegged on the company in a recent round of financing. This would make it one of the largest tech IPOs since Snap went public in 2017 for $24 billion.

The IPO of the firm would be one of the largest tech IPOs since Snap Inc.'s debut in 2017 that valued the company at nearly $24 billion.