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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.

Go deeper: Direct listings challenge benefits of traditional IPOs for unicorns

Go deeper

Dan Primack, author of Pro Rata
15 mins ago - Economy & Business

The Leon Black clock strikes midnight

Illustration: Sarah Grillo/Axios

Leon Black is "retiring" as CEO of Apollo Global Management, the alternative investment giant he has led since co-founding it in 1990. But he is not making a full break, as Black will remain chair of Apollo's board of directors.

Why it matters: This is the culmination of 18 months of head-in-the-sand obfuscation of Black's dealings with Jeffrey Epstein.

Reddit traders look to pummel Wall Street's old guard

Illustration: Sarah Grillo/Axios

Reddit traders are taking on Wall Street pros at their own game with this basic mantra: Stocks will always go up.

Why it matters: Their trades — egged on in Reddit threads — have played a role in historic market activity in recent days.

The week the Trump show ended

Data: NewsWhip; Chart: Andrew Witherspoon/Axios

Donald Trump was eclipsed in media attention last week by President Biden for the first time since Trump took office, according to viewership data on the internet, on social media and on cable news.

Why it matters: After Trump crowded out nearly every other news figure and topic for five years, momentum of the new administration took hold last week and the former president retreated, partly by choice and partly by being forced off the big platforms.

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