A startup for developers GitLab, the latest market valuation of which exceeded $ 6 billion, is planning a public offering on the NASDAQ stock exchange – it was founded by Kharkovites Dmitry Zaporozhets and Valery Sizov. Reported by CNBC.
The company announced that it plans to go public on the NASDAQ under the ticker “GTLB” and has already submitted an application. It is one of the largest stock exchanges in the world and lists the shares of tech giants such as Apple, Microsoft, Amazon and Facebook.
Last year, the company’s revenues were $ 200 million. In the last quarter of 2020, revenue grew 69% year over year. At the same time, the net loss is about $ 40 million.
GitLab became a “unicorn”, meaning it was valued at a billion dollars, back in 2018.
The startup’s main competitors are GitHub, which was acquired by Microsoft for $ 7.5 billion in 2018, and Atlassian.
The company last received a $ 6 billion valuation in January 2021 in a late round of funding.
The largest shareholder of the company is Sid Sibrandi with 18.9% and Khosla Ventures with 14%. Co-founder of the company Dmitry Zaporozhets owns up to 5% of the company, Forbes reports.
GitLab is a DevOps platform for software development professionals to interact with IT service professionals and to integrate their workflows to ensure product quality. The platform is delivered as a single program. The startup entered the lists of new unicorns in 2018.
