Chat-ser­vice firm Slack taps Gold­man Sachs to lead IPO

National Post (National Edition) - - FINANCIAL POST - GREG ROUMELIOTIS AND CARL O’DON­NELL

NEW YORK • Slack Tech­nolo­gies Inc., a provider of chat and di­rect mes­sag­ing ser­vices for busi­nesses, has hired in­vest­ment bank Gold­man Sachs Group Inc to lead its ini­tial pub­lic of­fer­ing (IPO) next year as an un­der­writer, peo­ple fa­mil­iar with the mat­ter said.

The San Fran­cisco-based com­pany is among a string of Sil­i­con Val­ley uni­corns ex­pected to de­but in the stock mar­ket in 2019. Other IPO hope­fuls in­clude apart­ment-rental ser­vice Airbnb Inc, an­a­lyt­ics firm Palan­tir Tech­nolo­gies and Stripe Inc, a dig­i­tal pay­ment com­pany.

Ride-hail­ing com­pany Lyft Inc beat big­ger ri­val Uber Tech­nolo­gies Inc in fil­ing for an IPO this week, de­fy­ing the re­cent mar­ket jit­ters that have weighed on cor­po­rate val­u­a­tions.

Slack hopes to fetch a val­u­a­tion of well over US$10 bil­lion in its IPO.

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