(San Francisco)

2019’s IPOs could hardly have gone worse. If you take the average performance of the top IPOs this year—Lyft, Uber, Pinterest, and Chewy—you see a loss of 30%. That is phenomenally poor considering the hype of these companies coming into their IPOs. And what’s worse, that figure doesn’t even count the worst one of all—the failed WeWork IPO. However, one company which looks like it has suffered unnecessarily and deserves a long-term bet is Slack, the office communications technology. It has a highly sticky user base and is not burning cash at anything close to the rate of the others. Users report that it is almost impossible to stop using Slack’s service once your office has converted to it.

FINSUM: Slack is essentially trying to replace internal office email. That is a long road but there has been a lot of early success. It seems like it is worth of a long term bet, especially after selling off by 43% this year.