Slack confidentially files to go public

Slack confidentially files to go public
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Messaging company Slack Technologies Inc. announced Monday that it has confidentially filed documents with the Securities and Exchange Commission (SEC) to go public.

The workplace communication giant, founded in 2013, was valued at $7 billion last year and now has more than 10 million daily active users.

PitchBook estimates that the company has raised roughly $1.2 billion in capital, and Reuters reported Monday that Slack is aiming for a valuation in excess of $10 billion in the listing.

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Airbnb, Lyft and Uber are also expected to go public this year.

It is unclear if Slack's application will be approved by the SEC before Feb. 15, when current funding for the agency is slated to expire. Lawmakers on Capitol Hill are attempting to hammer out a deal for longer-term funding that's tied to a standoff over President TrumpDonald TrumpBiden heading to Kansas City to promote infrastructure package Trump calls Milley a 'f---ing idiot' over Afghanistan withdrawal First rally for far-right French candidate Zemmour prompts protests, violence MORE's demand for a border wall.

Several companies did not receive approval or feedback while the SEC was closed during the 35-day shutdown that ended Jan. 25.

A spokesperson for Slack declined to comment beyond Monday's press release announcing the confidential filing.