Shares of were up by nearly 50 percent in first-day trading, after the company priced its shares above its projected range.
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On Wednesday, the workplace communications platform set a reference price for its shares at $26 on the New York Stock Exchange. Shares began trading this morning at $38.50 under the symbol ���WORK.��� Today, the stock closed at $38.62, or 48.54 percent higher than its reference price, after topping $40 a share during midday trading.
Based on its valuation after its last funding round, Slack and its growth has been compared to the likes of and , which also focuses on workplace productivity. While they all have different audiences and strategies, let���s run with this comparison. For context, Zoom traded up 77 percent, and traded up 33 percent on their first days. , which went through a direct listing as well, on first day trades, but then closed 10 percent below its opening price.
That said, early trading sessions only tell so much. A pop is just that, a pop.
In the meantime, we thought this would be a good time to take a quick look at Slack���s funding history. The San Francisco-based company has raised since its inception in 2009, according to 蹤獲弝け data. Recent backers included and . Famed investors and participated in its $5 million back in 2010.
See the interactive chart below for a funding rewind of Slack���s private life.
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