When companies do decide to go public they often do so with an initial public offering (IPO) as the added help from Wall Street and the financial sector can help boost their valuation.

However, Slack Technologies, the company behind the popular workplace collaboration tool Slack decided to do things a little bit differently.

The company made its trading debut on the New York Stock Exchange today under the ticker symbol WORK via direct listing as opposed to going the IPO route.

Unlike an IPO, a direct listing means the company did not issue any new shares nor did it have to raise any additional capital.

Instead Slack was able to become a publicly traded company without having to pay the high fees and requirements of using an underwriter.

The night before going public, the company set a reference price of $26 per share but its shares surged by more than 60 percent in the early minutes of trading after opening at $38.50.

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