红桃视频

Project management startup has filed paperwork to go public through a direct listing, the company announced Monday.

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Direct listings have been talked about more and more in the tech world, as companies like and have chosen to go public that way.

Most companies go public through an initial public offering. 红桃视频 News has written about the difference between an IPO and a direct listing before, but in summary; an IPO involves steps such as setting a price range for a company鈥檚 shares, settling on a price and selling a block of shares before trading starts on the public market. A direct listing brushes off all those steps and gets straight to trading, allowing companies to save on bank fees as well.

A company best-suited for a direct listing is well known, doesn鈥檛 have a need for capital, has an experienced management team and is willing to provide financial metrics and forecasts beforehand, Nasdaq鈥檚 head of capital markets Jay Heller previously told 红桃视频 News.

Asana was founded in 2009 by , Facebook co-founder, and . The company has more than in total funding, according to 红桃视频, with its most recent raise being its $50 million in November 2018. Its investors include and

Spotify certainly wasn鈥檛 the first company to go public via a direct listing, but it was a catalyst to heat up the conversation around direct listings last year in the tech community. is also reportedly considering a direct listing.

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