Market Overview

Asana Opens Above IPO Reference Price

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Asana Opens Above IPO Reference Price

Asana (NYSE: ASAN) made its public debut Wednesday afternoon, opening at $27, above its reference price of $21 per share.

The company listed its shares on the NYSE under the ticker symbol "ASAN."

Related Link: Asana's Direct Listing IPO: What Investors Need To Know

About Asana: Asana was co-founded by several Facebook leaders who saw coordination challenges that came as Facebook grew. Facebook co-founder Dustin Moskovitz, who was Mark Zuckerberg’s roommate at Harvard, is an Asana co-founder.

Market Size: The work management market is expected to grow from $23 billion to $32 billion by 2023. Asana believes there are 1.25 billion global information workers and that it has less than 3% market share for the segment. Over 27 million users have registered for Asana since its inception, which the company believes shows potential paying customers in the future.

The stock traded around $28.10 at publication time.

 

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