![]() ![]() “We’re not ideological crusaders on this stuff,” he said. Slack Chief Executive Officer Stewart Butterfield said Thursday that the company chose not to have a traditional IPO for a pragmatic reason: It didn’t need the cash. ![]() advised Slack on the listing, the same trio of banks that lined up when Spotify went public. Goldman Sachs Group Inc., Morgan Stanley and Allen & Co. Spotify’s stock is up 13% from its reference price since then. The music-streaming provider went public using a similar maneuver last year, the last high-profile company to do so. Slack, which makes software for workers to chat and collaborate on projects, directly listed its shares on the New York Stock Exchange, bypassing the usual fundraising process of an IPO and allowing shareholders to sell right away without a lockup period.Ī parallel for this unusual type of stock listing is Spotify Technology SA. $75 billion value and bypassing Lyft Inc. markets this year, topped only by Uber Technologies Inc. Thursday’s debut makes Slack the second-most valuable technology company to reach U.S. That’s a huge increase from Slack’s last private funding round in August, which valued the company at $7.1 billion. The stock closed at $38.62, giving the company a market value of $19.5 billion. Slack opened at $38.50 on the New York Stock Exchange Thursday, well above the reference price of $26 that was set for the shares in the direct listing. took a different route on Thursday, and saw its shares soar as it went public without an IPO. A parade of initial public offerings from Silicon Valley this year has garnered a mixed reception from investors. ![]()
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The outage comes one month after Rockstar removed downloadable versions of the original Grand Theft Auto trilogy games from console and PC storefronts ahead of the remaster's release. This hobbling of the PC version is inexcusable. These games include zero online functionality-not even friend leaderboards, let alone the two-player mode from San Andreas. For all versions, internet, Rockstar Games Launcher, and Social Club account (varies 13+) required. While the games' authentication process may return before long, the fact that the games need to check in online is maddening. Advertisementįurther Reading We suggest you don’t buy the $60 Grand Theft Auto Definitive TrilogyAs Ars' own Sam Machkovech put it in his overall negative impressions of the remastered games: Services will return as soon as maintenance is completed." Fourteen hours later, the company gave a brief update, saying, "We thank you for your patience and understanding as we continue to work on restoring services for the Rockstar Games Launcher and supported titles." That same update also appears on Rockstar's support site. Rockstar officially noted the outage in a support tweet Thursday afternoon, merely saying that "services for the Rockstar Games Launcher and supported titles are temporarily offline for maintenance. The timing of the outage is particularly tough for the company, coming amid Thursday's launch of the remastered Grand Theft Auto: The Trilogy. The servers for the Rockstar Games Launcher on PC have been down for nearly 24 hours now, and PC versions of Rockstar's games have been removed from sale on the company's website. 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