Sign up to receive 5 free days of our daily summary for tech news.

Enter your email to read the full article.

Jessica Toonkel shared this article with you.

Already a subscriber? Log in here

Enterprise Startups Markets

Slack’s Financials Ahead of Listing Plans

The news that Slack wants to go public through a highly unconventional direct listing, in which it doesn’t sell new shares to raise money, has come as a surprise to some. But the messaging startup has built a strong enough cash position to pull it off, according to financial documents viewed by The Information and a person familiar with the matter.

As of October 2018, the firm had roughly $900 million in cash on its balance sheet, the person said. It previously was burning cash at a slow enough rate that it likely wouldn’t need to raise money again for the foreseeable future, according to the documents, which were used in a meeting attended by Slack executives in early 2018.

What Is The Information?

Notes bb3aa5069205d702dda37fc71dc6f1c59df2310c4379304e9f1199f052af4884

Exclusive Articles

We broke it first. Receive original reporting you won't read anywhere else from the largest newsroom in tech.

Notebook b5103017ee163370a1667c9ce59ab0ef023875a17888105d26c185cadf31bb69

Daily news analysis

Every weeknight, we'll send you our reporters’ views on the day’s top tech news—distilled into one email.

Conference calls c9e664e8b96ee347d3e92b8309938f268422b9db98cfabca5c826fbb75054b23

Conference calls

Get access to our reporters and other top executives with monthly deep-dive calls into topics like startups and autonomous vehicles.

Events 499acedd16cffc41445edd76bfd302b2836c2a27419890f17130a6b10e2aa3df

Special Events

For no extra fee, get access to more than a dozen events yearly, from intimate dinners to larger gatherings with marquee speakers.

What else is included in my subscription?

Become a contributor

Share your views and find other subscribers by completing your profile. You’ll be listed in our contributor directory.

Slack community

Discuss topics and current events with our subscriber-only Slack group and share news about your company with other subscribers.

Annual Subscriber only benefits:

Org Charts

Access the only collection of tech company org charts. Our expanding database includes companies like Amazon, Snap, and Uber.

Crypto Newsletter

Our experts investigate the latest in the crypto world to keep you in-the-know about the movements of digital currencies.

Read this article for free

Jessica Toonkel shared this article with you.

Already a subscriber? Log in here

Recent Articles

Enterprise Startups

Stewart Butterfield and the Changing of the SaaS Guard

By Jessica E. Lessin

Entertainment

The People With Power at Spotify

By Jessica Toonkel

Startups Google

New Book Highlights Silicon Valley’s Military Roots

By Nick Wingfield

Facebook Media/Telecom

Next on Facebook’s Shopping List: Acquisitions to Beef Up Gaming

By Alex Heath