The one-stop shop approach by DevOps darling GitLab appears to have attracted an Initial Public Offering price of $77, giving the loss-making biz a potential valuation of $11bn
GitLab finally filed for an IPO in September and this week upped the estimated price per share to between $66 and $69. The eventual price has turned out to be $77, well above the initial $55 to $60 first estimated.
8.42 million shares of Class A common stock are being sold. Founder and CEO Sytse Sijbrandij is selling another 1.98 million shares, according to the filing. Should that $77 price survive the start of trading today, GitLab's market value will nudge past $11bn.
GitLab has continued to burn cash over the years. Net loss for the six months ended 31 July 2021 was $69m, up from $43.5m for the same period last year. Despite predicting a jump in ...
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