Slack’s top executive reportedly thinks his company’s work messaging platform will assert dominance over traditional work email in the coming years.
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During an interview with CNBC on Thursday, which shared a clip of the exchange, CEO Stewart Butterfield was asked the question: “When will we end the world of email as we know it?”
“Inside our companies, I think that’s happening faster and faster,” Butterfield replied. He said he anticipates a quicker switch could happen in “the next five to seven years.” But email as a whole “will stick around,” he added.
Butterfield’s remarks came prior to Slack’s trading debut Thursday morning. A share sale valued the company at $15.7 billion.
Shares of Slack opened at $38.50 -- higher than its direct listing of $26 per share.
|WORK||SLACK TECHNOLOGIES INC.||21.69||+0.39||+1.83%|
The direct listing approach, unlike an IPO, avoids investment bankers and so-called "road shows." Unlike a traditional initial public offering, under a direct listing a company doesn't hire underwriters or sell new shares to raise money, it just lists existing shares. There is no offering price.