Slack makes its public debut the at a direct listing on the new york stock exchange, opening 48 above its reference price. Valuing the software messenger at more than 20 billion, a big increase from the last private valuation. 70. 1raised money at a billion dollar valuation. Slack rightwith before shares began trading. At this point it has been working exactly the way it is supposed to work and ultimately, we will open and have a high and low. The same thing will happen tomorrow and we are very much focused on the longterm. You are still paying large fees to bankers. You raise a lot of money. So what problem are you really solving by doing a direct listing versus a traditional ipo . The first is there is no need to raise primary capital. We came into the process with 300 million on the balance sheet. Dilution to existing shareholders would have been tough. We did get a little more freedom with how we tell the story. Instead of only having a roadshow and private rooms with investors, we
Drone, and the Trump Administration responds with a cyber attack. But iran has a Cyber Strategy of its own. How they are attacking u. S. Banks online. First, to our top story, the continued back and forth between beijing and washington has put tech squarely in the crosshairs of the trade war, impacting Companies Like apple, huawei, and many more. A new article in Bloomberg Businessweek details how chinas tech sector is mostly insulated from exposure to the u. S. On many fronts, but there is one area where it is still dependent semiconductors. Over the last decade plus, china has seen a surge in chip imports. Now more than 300 billion. For more on the trade wars ongoing impact on tech in both countries, we spoke to Bloomberg Bloomberg techs ian king and our Global Executive editor brad stone. Ian esoteric parts like broadcoms switch chip, more common parts like an intel microprocessor or an amd graphics chip, china really cant replicate those yet. They have been trying for years and it
First, to our top story. Slack makes its public debut the at a direct listing on the new york stock exchange, opening 48 above its reference price. Valuing the software messenger at more than 20 billion, a big increase from the last private valuation. They raised money at a 70. 1 7. 1 billion valuation. I caught up with slack right before shares began trading. At this point it has been working exactly the way it is supposed to work and ultimately, we will open and have a high and low. The same thing will happen tomorrow and we are very much focused on the longterm. Emily you are still paying large fees to bankers. You raise a lot of money. So what problem are you really solving by doing a direct listing versus a traditional ipo . The first is there is no need to raise primary capital. We came into the process with 300 million on the balance sheet. Dilution to existing shareholders would have been tough. We did get a little more freedom with how we tell the story. Instead of only having
Downs a u. S. Drone and the Trump Administration responds with a cyber attack. But iran has a Cyber Strategy of its own, how they are attacking u. S. Banks online. The continued back and forth between beijing and washington has put tech in the crosshairs of the trade war, impacting Companies Like apple, huawei, and many more. Howw article details chinas a tech sector is mostly insulated from exposure to the u. S. On many fronts. But there is one area where it is still dependent, semi conductors. Over the last decade, china has seen a surge in chip imports. For more on the ongoing impacts in both countries, we spoke to bloomberg techs ian king. Who covers the chip industry and cowrote the affirmation article and Senior Editor brad stone. Ian a satiric parts like broadcoms switch chip, more common parts like an intel microprocessor, china really cant replicate those yet. They have been trying for years and it just has not come close. Emily why not . Ian it is difficult. When you are arra
Stocks surging yesterday trump saying the two will meet in china discord in the ranks as pricing pressures mount opec pushing off next weeks planned meeting in vienna. We will tell you when they will finally have a meeting and maybe have to confront iran. Its wednesday, june 19th. Worldwide exchange begins right now. All right. See what they did there. A lot of news out of asia, you got the band good morning, good afternoon, good evening wherever you are. Im Brian Sullivan we have a huge wednesday hour for you including our exclusive sit down with that man, the founder of huawei. Well get to thatin a moment first well start with the markets. The u. S. Major averages are points away from hitting fresh alltime highs following 1 gains or more across the board yesterday. All the major averages, the dow, the nasdaq, more than 20 up from their december lows right now futures are fairly muted. Well call them flat bonds have been a billion dollar story as well. Probably more of a trillion doll