Slack (software)

Unprofitable company IPOs are a big zero this year

The Uber banner hangs outside of the New York Stock Exchange in 2019.
The Uber banner hangs outside of the New York Stock Exchange in 2019. Photo: Spencer Platt/Getty Images

After being on pace to beat the overall market earlier this year, Reuters' April Joyner reports that a Reuters analysis finds "[u]nprofitable U.S. companies holding IPOs this year have had a median stock return of 0%."

Between the lines: This is likely because Beyond Meat is now profitable and its 228% stock increase this year is no longer counted among the returns of unprofitable companies.

Slack's intensifying war with Microsoft

Slack HQ
Photo: Slack

A war of words (and numbers) between workplace messaging service Slack and Microsoft is heating up, as Slack finds itself having to compete in the category it pioneered.

The big picture: Slack, which went public in June via a direct listing, now finds itself up against Microsoft, which has the luxury of including its rival Teams product as part of its big Office bundle.