📈GitLab Inc shares opened about 22% above their offer price
• GitLab Inc (GTLB.US) shares available at XTB
• One of most anticipated public offerings (IPO) this year
GitLab Inc (GTLB.US), an all-remote software company, debuted on the Nasdaq stock exchange today. Initial IPO price range set by GitLab Inc. was $55-60 per share. However, it was boosted to $66-69 per share earlier this week due to strong demand. Meanwhile company’s stock opened at $94.25, giving the company a market capitalization of $13.48 billion.
While an almost $13.50 billion IPO valuation may look small compared to Coinbase or Robinhood IPOs from earlier this year, the company has some of the world's top tech companies among its customers like Alphabet Cloud Services, NVIDIA, Alibaba Group or Amazon's AWS. GitLab is a DevOps platform launched as a free and open-source project that aims to optimize workflow between software development and IT operations and is currently used by more than 100 thousand companies and institutions and this number is constantly growing.
You can read more about GitLab Inc and its financial data in our yesterday’s “GitLab Inc debuts on Thursday! “ post, link below:
