This is not a comment Slack's product or even valuation. I don't use Slack, so I'm not qualified to comment on the product. And I think the company is overvalued, at least a little bit.
But I want to express my respect for the founder. For all his quirkiness, Stewart Butterfield has done right by the employees. By options for direct listing instead of IPO, the employees do not have a lock out period and can sell their shares on day 1. The rank and file employees get to benefit from the valuation and not just founders and investors, unlike most of the hyped IPOs.
Thank you,, Sir! I wish more companies, at least the ones that claim to be profitable, follow this path.
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Start ups having business as customers do quite well. It may have huge upside like consumer companies but it is more stable. Okta, Box, MongoDB did pretty well after IPO. Whereas, GoPro, Zynga, Groupon, Dropbox, BlueApron not much.
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