GitLab Seeks Up To $9B Valuation For Nasdaq Listing

by Anusuya Lahiri, Benzinga Editor
October 4, 2021 6:34 PM | 1 min read | Make a Comment
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  • Coding platform GitLab Inc GTLB aims to sell 8.42 million shares at $55 - $60 per share via U.S. initial public offering.
  • Selling shareholders are selling 1.98 million shares. The maximum gross proceeds are $624 million.
  • It targets a valuation of up to $8.6 billion based on 143 million shares for a Nasdaq listing.
  • GitLab creates online tools to reduce the software development cycle by allowing teams to collaborate, Reuters reports. It was last valued at $6 billion after a secondary share sale in January.
  • GitLab counts Nvidia Corp NVDA, Siemens AG SIEGY, and Goldman Sachs Group Inc GS among its customers.
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