Slack has filed confidential IPO paperwork, company says

Slack Technologies Inc. said Monday that it has confidentially filed a draft registration statement with the Securities and Exchange Commission regarding a proposal initial public offering. "The public listing is expected to take place after the SEC completes its review process, subject to market and other conditions," Slack said in a release. The company fetched a $7.1 billion private-market valuation in August. Slack's submission of its draft registration statement comes as the Renaissance IPO ETF has risen 4% over the past three months. The S&P 500 has dropped 0.3% in that time.

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