GitLab reaches $13.5B valuation in Nasdaq debut

Thursday, 14. October 2021 19:04

The coding platform GitLab opened at $94.25 per share in their Nasdaq debut, 22% above the initial public offering price of $77 per share. This leaves the company at a $13.48 billion valuation, an increase from the expected $10 billion.

GitLab sold 8.42 million shares in its IPO, raising nearly $801 million in total. With customers including Nvidia Corp, Siemens AG, and the Goldman and Sachs Group, the company is considered to be Microsoft-backed GitHub's main competitor.

Related Links: Goldman Sachs Group Inc.Siemens AGNVIDIA Corporation
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Breaking the News / TT