Slack Skipping IPO and Going Right to the Public

Slack is entering the public market through a direct listing, allowing investors and employees to sell shares immediately, similar to Spotify's approach. This move comes amid a volatile market influenced by trade tensions and antitrust scrutiny. While some IPOs have succeeded, others have struggled. Slack aims for a valuation of $16-$17 billion, despite slowing revenue growth and expected losses of $190 million. Success for Slack would mean stable trading without major disruptions, as the company hopes to convince investors of its value.

What was the market context for Slack's public listing, particularly regarding U.S. stocks?

What challenges does Slack face in convincing investors of its valuation?