Slack Technologies filed its formal indication to go public in a direct listing on the New York Stock Exchange that could value the instant messaging services group at around $10 billion.

Slack, a business-focused instant messaging service based in San Francisco, will follow Spotify Technology's (SPOT) - Get Spotify Technology SA Report move in August of last year to forego investment bank underwrites and list directly onto an exchange as existing shareholders get a chance to sell their holdings to new investors. Slack said Friday it has asked for the ticker symbol "SK" for its original placeholder of 100 million shares.

Slack also told the Securities and Exchange Commission that it posted a $140.7 million for the fiscal 2019 year, on just over $400 million in revenues, but said its daily active users past 10 million for the final three months that ended in January. 

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Earlier Friday, Uber Technologies (UBER) - Get Uber Technologies, Inc. Report set the indicative price of its planned IPO that would value the ride-sharing group at around $85 billion, well below the $120 billion valuation investors had pegged prior to the debut of rival Lyft Inc. (LYFT) - Get Lyft Inc Class A Report last month.

Uber said it would price shares in the range of $44 to $50 each, according to documents filed with the Securities and Exchange Commission, and plans to sell around 180 million shares. At the top end of that range, Uber would raise around $10.35 billion, around five times the amount raised by Lyft on March 29.

The lower-than-expected valuation for Uber follows a rough debut for rival Lyft, which rose more than 23% to $87.24 each on its first day of trading on the Nasdaq before slumping some 35% to close at $56.34 on Thursday.