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Asana filed privately to go public in February of 2020 and was recently tipped to be considering a direct listing on the NYSE. The workplace productivity software provider has raised debt this year to the tune of $200 million or so, meaning that it likely has all the capital it needs. And since the funds were raised as a convertible note, the company can direct list, convert to shares post-debut and everyone is happy. Provided that money stays cheap (low interest rates making debt instruments of this sort enticing), and the Asana direct listing goes well (strong performance from a valuation perspective), consider this the model for future unicorn liquidity. We are stoked to see what happens.
Credit: YouTube
