GitLab has filed papers with the SEC, for an IPO.
According to online sources, GitLab, a platform for storing and collaborating on code, plans to conduct an initial public offering (IPO) on the U.S. exchange Nasdaq. By doing so, the company expects to raise funds that will help it compete with Atlassian and GitHub (bought by Microsoft in 2018 for $7.5 billion).
GitLab originally planned to IPO on November 18, 2020. In May 2020, it postponed the exit because of the pandemic. In December 2020, the value of the platform reached $6 billion.
- During the year, the company’s revenue grew 69% to $58.1 million.
- The platform for storing and collaborating on code will go public under the ticker GTLB.
- GitLab’s revenue jumped 69% over 2020 to $58.1 million in the last quarter, with the company’s net loss for the year rising from $9.4 million to $40 million.
- The company had planned an IPO on Nov. 18, 2020, but postponed it in May 2020 because of the pandemic. In December 2020, the platform reached a valuation of $6 billion.
- GitLab was founded by Valery Sizov and Dmitry Zaporozhets from Ukraine in 2011 and was joined by Sid Sibranji in 2013. Clients include Goldman Sachs, Nvidia, Ticketmaster, Delta Airlines and others.
- GitLab remotely employs 1,350 people in more than 65 countries. The prospectus headline reads “address not applicable,” CNBC notes.
GitLab was founded in 2011 by Valery Sizov and Dmitry Zaporozhets from Ukraine. Its clients include Goldman Sachs, Nvidia, Ticketmaster, and others. The platform remotely employs 1,350 employees in more than 65 countries. GitLab co-founder and CEO Sid Sijbrandij is its largest shareholder and owns 18.9% of Class B shares.