Slack Said to Be Planning Early 2019 IPO on $7 Billion Valuation

September 28, 2018, 2:26 PM UTC

Slack could go public in the next several several months, according to a new report.

The productivity service maker is eyeing an initial public offering (IPO) for the first half of 2019 that could value the company at about $7 billion, The Wall Street Journal is reporting, citing people who claim to have knowledge of its plans. If all goes well, the IPO could be pushed up to the first quarter of 2019, according to the report.

Slack offers a wildly popular productivity service that aims at taking on e-mail. The app can be used by both individuals in teams or companies and allows for sending private and public messages to groups, file sharing, and more. It’s become the go-to way of communicating at companies, both small and large. It has more than 8 million daily active users.

According to the Journal‘s sources, Slack has been exploring an IPO since 2017, but only recently decided to expedite that process and prepare for a 2019 IPO. The company is exploring hiring underwriters for the deal, according to the report.

According to Crunchbase, a service that tracks venture capital funding, Slack has raised $1.2 billion since it was founded in 2009. Its last financing round, a Series H, helped the company raise $427 million from six investors, including Dragoneer Investment Group and General Atlantic.

Slack declined Fortune‘s request for comment on the report.