- Direct listing allows existing shareholders to sell shares on the chosen exchange;
- In 2019, Airbnb has also expressed interest in a direct listing.
The productivity toolmaker Asana has announced this Monday that they have confidentially filed their form S-1 to the Securities and Exchange Commission (SEC) to enter the public markets via a direct listing (i. e. without issuing new shares).
Spotify and Slack have taken this same path to go public in 2018 and 2019, respectively. Direct listing allows existing shareholders to sell shares on the chosen exchange. In 2019, Airbnb has also expressed interest in a direct listing. For the company, this way of going public represent less costs and risks than doing an IPO.
Asana was co-founded by Facebook co-founder Dustin Moskovitz and Justin Rosenstein. The tool helps teams organize and manage all of their work, from small projects to strategic initiatives. Headquartered in San Francisco, CA, Asana has more than 70,000 paying organizations and millions of free organizations across 195 countries.