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Slack, the newly-public chat app worth about $20 billion, has a hidden meaning behind its name (WORK)

Slack, the newly-public chat app worth about $20 billion, has a hidden meaning behind its name (WORK)
Richard / Drew Associated Press



Slack debuted Thursday on the New York Stock Exchange under the ticker "WORK."




Trading early Thursday saw the company's stock up over 50% from its reference price $26 per share. That values the company at just under $20 billion.




In a Twitter thread from 2016, Slack cofounder and CEO Stewart Butterfield explained the app's name was originally an acronym that stands for "Searchable Log of All Conversation and Knowledge."




Visit Business Insider's homepage for more stories.



On Thursday, popular workplace chat app Slack made its highly anticipated debut on Wall Street that valued the company just under $20 billion.
Slack, which is trading under the stock ticker "WORK," opted for a direct listing, an uncommon approach allows the company to bypass the traditional public offering process and sell shares directly to the public. Shares were trading up some 50% from its reference price of $26 per share Thursday.
Read More: The amazing life of Stewart Butterfield, the CEO leading Slack to a potential $15.7 billion valuation when it goes public today
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