• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Thursday, May 22, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Business

GitLab eyeing valuation of $10 billion, raises IPO price range

by Manasi Varma
October 13, 2021 - Updated On October 19, 2021
in Business, Tech, World
Reading Time: 2 mins read
0
GitLab eyeing valuation of $10 billion, raises IPO price eange

Image Credits: Symphony

TwitterWhatsappLinkedin

Coding platform GitLab is eying a valuation of $10 billion, and has raised the pricing range for its US IPO. The company has announced that it is seeking to sell shares for anywhere between $66 and $69 each, having raised the bar from the initial $55 to $60.

You might also like

Google Introduces Beam AI for Lifelike 3D Video Transformation

Epic Games’ Fortnite Makes Triumphant Return to Apple’s App Store After Nearly Five-Year Ban

Paramount Faces Political Firestorm Over Possible Trump Lawsuit Settlement

If shares end up being sold at the top end of the new range, the IPO will bring in some $717.6 million, giving the firm a valuation of around $10 billion. Goldman Sachs & Co., BofA Securities, and J.P. Morgan are the offering’s lead underwriters.

An Established Name

The seven-year old venture is known for developing online tools to bring down the time required to develop softwares, by allowing teams to work together by collaborating. It boasts a well-reputed customer base, including Goldman Sachs, Nvidia, and Siemens. Started in 2011 as an open-source project, GitLab was co-founded by Dmitriy Zaporozhets in Ukraine. It is backed by Khosla Ventures, and has resorted to a fully remote work model, allowing its 1,350 employees to work remotely from home in over 65 countries.

This move by the company is the latest indication that the initial public offering scene in the United States is still thriving, despite weeks of high volatility which resulted in many companies delaying their listings. In fact, this year alone has seen 777 IPOs, including blank-check firms, which have raised a whopping total of $249.22 billion.

Change of Plans

GitLab had initially been eying an IPO last year itself, but was apparently forced to move the same to 2021. It had previously raised $100 million in 2018, through a Series D finanical round, which was led by Iconiq. Back then, the funding had raised its valuation to $1.1 billion.

Before that, it had also raised another $45.5 million from previous investors, including Google Ventures, Khosla Ventures, August Capital, and Y Combinator.

Umwanted Comparisons to Microsoft-Backed GitHub

The company has long been compared to GitHub, but GitLab does want to differentiate itself from the Microsoft-backed firm, saying that it has a more comprehensive platform to offer end-to-end services.

GitLab eyeing valuation of $10 billion, raises IPO price eange
Image Credits: Twitter

Three years ago, the company, and it’s CEO Sytse Sijbrandij, had said that GitLab might consider getting acquired when it feels that price being offered is right, but at the same time, the primary goal had been the sale of public shares.

It remains to be seen what course of action the firm will take next, seeing as how the IPO is already on its route to being underway.

 

News Source: Reuters

 

Tags: GithubGitlabGoldman SachsInitial Public OfferingIPOJPMorgan
Tweet54SendShare15
Previous Post

Senate committee asks TikTok for information regarding extremist content on its platform

Next Post

Tata Motors set to invest $2 billion in EVs after securing $1 billion from TPG and ADQ

Manasi Varma

A 20-something year old with a flair for writing, a love for reading, and an obsession for KPop. Most amicable person you'll ever meet.

Recommended For You

Google Introduces Beam AI for Lifelike 3D Video Transformation

by Sneha Singh
May 22, 2025
0
Google Introduces Beam AI for Lifelike 3D Video Transformation

Google has unveiled the wraps off its latest communication tech at the Google I/O 2025 conference, renaming its test Project Starline "Beam" – an advanced 3D video platform...

Read more

Epic Games’ Fortnite Makes Triumphant Return to Apple’s App Store After Nearly Five-Year Ban

by Anochie Esther
May 22, 2025
0
Fortnite

In a twist that has been long awaited by millions of fans and closely monitored by the tech and gaming industries alike, Fortnite is finally making its comeback...

Read more

Paramount Faces Political Firestorm Over Possible Trump Lawsuit Settlement

by Harikrishnan A
May 22, 2025
0
Paramount Faces Political Firestorm Over Possible Trump Lawsuit Settlement

Three senior U.S. senators are raising red flags over media giant Paramount Global’s ongoing legal entanglement with President Donald Trump, warning that a settlement in his $20 billion...

Read more
Next Post
Tata Motors logo is seen on the engine grille of a truck

Tata Motors set to invest $2 billion in EVs after securing $1 billion from TPG and ADQ

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?