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Slack Technologies, owner of popular enterprise workplace communications platform Slack, is actively preparing for an initial public offering (IPO) in the first half of 2019, according to The Wall Street Journal.

The company, which has reportedly been eyeing a potential IPO since 2017, is expecting to reach a valuation in excess of $7 billion.

The IPO will build on Slack's recent moves to help expand its platform to more users and improve its existing tools.

Slack, which boasted 8 million daily active users (DAU) as of May 2018, could use the influx of cash from an IPO to continue to improve its platform's tools and expand to more users around the world.

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