Feb 3, 2020 - Technology

Asana confidentially files for a direct listing

Asana co-founder and CEO Dustin Moskovitz. Photo: Horacio Villalobos - Corbis/Getty Images

Asana, a San Francisco-based maker of project management software, said on Monday that it has confidentially filed with the SEC to go public, with a spokesperson confirming it will be via direct listing — making it only the third to do so after Spotify and Slack.

Why it matters: This alternative route has become a hot topic in the past year in Silicon Valley, with some vocal proponents touting its benefits, such as more market-based stock pricing and letting employees sell their stock earlier. Asana could go public before Airbnb, which has also been rumored to be considering a direct listing.

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