10/4/2021, 1:33 PM (Source: TeleTrader)
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GitLab looking at $9 billion valuation in US IPO

The coding platform GitLab, Microsoft-acquired GitHub's main competitor, is looking to raise $624 million through an initial public offering in the United States, putting the company at an evaluation of approximately $9 billion, a $3 billion increase compared to the latest assessment in January.

The company will sell 8.42 million of its Class A common shares during the listing process, in addition to shareholders offering another 1.98 million. The collaborative platform is already backed by ICONIQ Capital and Khosla Ventures, boasting customers such as Nvidia Corp., Siemens AG and Goldman Sachs.

Baha Breaking the News (BBN) / TT