Slack insiders are set to reap some big paydays when the workplace messaging company goes public.
Palihapitiya originally made his money as an early employee at Facebook, though as a VC he's done well backing companies like Box, SurveyMonkey and Yammer.
He plowed his own money into Social Capital as one of its major investors, so Slack's payday should benefit him handsomely. Social Capital owns nearly 51 million shares and is the third-largest shareholder. At $28/share that stake would be worth over $1.4 billion.Japanese investment powerhouse Softbank Vision Fund first bought into Slack after the company had already become successful, in 2017 as part of a huge $250 million venture round.It bought into other rounds as well and now owns nearly 37 million shares, or 7.3% of the company. At $28/share that stake would be worth, just over $1 billion.
This turned into a bigger job than he could possibly have imagined back in 2014 because Slack is going public in a direct listing, meaning it didn't hire a bunch of bankers to run the IPO.8Robert Frati is Slack's senior VP of Sales and Customer Success. He joined the company in 2016 after a decade at Salesforce.
Frati was the highest paid exec at Slack in 2019, with a base salary of $450,000 compared to Butterfield's $430,000. Slack Head lawyer David SchellhaseDavid Schellhase is Slack's General Counsel and secretary who joined the company at the end of 2016. He's working especially hard with this IPO because it's a direct listing.Slack board member Sarah FriarSarah Friar, the CEO of Nextdoor and former CFO of Square, joined Slack's board of directors in 2017.
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