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.
Stewart Butterfield, co-founder and chief executive officer of Slack, stands outside the New York Stock Exchange (NYSE) before the opening bell on June 20 in New York City. (Getty)
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.||32.03||-1.43||-4.27%|
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.