First exit in GP Bullhound Fund IV portfolio as Slack successfully lists on the NYSE
London, 5 July 2019 – On Thursday 20 June, GP Bullhound Fund IV portfolio company Slack Technologies was publicly listed on the NYSE. The reference price was set to $26 per share and the stock surged 49% on its first day of trading. Since then, the fund has partially realised its investment at a significant gain. The remaining holding has been retained as exposure to the long-term upside GP Bullhound sees in Slack.
GP Bullhound Fund IV first invested in Slack in May 2018 on the back of the positive impact Slack had on the wider organisation, having become a customer two years prior to the initial investment. GP Bullhound issued a research report on Slack in April 2019, available here.
Per Roman, Co-Founder of GP Bullhound and Head of Asset Management, commented:
“Slack has the potential to become one of the most significant enterprise software companies globally. With more than 10 million active users across 600 thousand organisations the platform is redefining collaboration across multiple industries and applications.
We see Zoom and Atlassian as close comparables and are thrilled to see how these companies are partnering with Slack in a number of areas. Microsoft continues to make advances with their Teams solution and it will be interesting to see how the market continues to evolve.”
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Alon Kuperman, Director, firstname.lastname@example.org
About GP Bullhound
GP Bullhound is a leading technology advisory and investment firm, providing transaction advice and capital to the world’s best entrepreneurs and founders. Founded in 1999, the firm today has offices in London, San Francisco, Stockholm, Berlin, Manchester, Paris, Hong Kong, Madrid and New York. For more information, please visit www.gpbullhound.com.