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Felicia Tan
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Finance
December 9 10:19

Asana project management service will be on the stock exchange in 2020

Asana was launched by Facebook founder Dustin Moskovitz in 2008
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In November 2018, it raised US$50 million, and today the company is estimated at US$1.5 billion. Asana's annual revenue is US$100 million.
Financial Times reports that the company can refuse from IPO and directly place its shares. Such large companies as corporate messenger Slack in November 2019 and streaming service Spotify in 2018 have already done this. Airbnb is also planning to give up its IPO in 2020 and enter the stock exchange, said Brian Chesky, the service manager.
Direct placement of shares is an alternative to the IPO, it allows companies not to issue additional shares. Underwriters are involved for the sale and valuation of shares, so that the owners of shares can sell them directly on the stock exchange. 
For preparation to an entrance on an exchange Asana hired consultants Morgan Stanley and JPMorgan Chase, wrote the Financial Times. Representatives of the company refused to comment on this issue.