The VC community has been watching Slack’s listing on the NYSE intently, as Slack has used the unconventional direct listing approach which carries a lot of risk but also potential reward for the existing shareholders. Thus far it has looked to be successful, with a whopping 22-27x implied multiple on annual revenue, even though Slack is not profitable yet.

Here are two interesting datagraphics that have been prepared by analysts in the US about Slack’s pathway to the IPO exit:

https://equityzen.com/path-to-ipo/slack/

https://pitchbook.com/news/articles/tracing-slacks-tracks-from-founding-to-direct-listing-datagraphic