The newest tech IPO of the year is GitLab, which starts trading today. The IPO is being watched closely by those interested in cloud computing platforms. Here’s what you need to know:
- What is GitLab? It is a cloud-based depot for software. The platform enables developers to share and contribute to each other’s work. With this, GitLab competes most directly with Microsoft’s GitHub.
- What market will GitLab be trading in? GitLab will start trading on the Nasdaq starting October 14, 2021.
- What is GitLab’s stock ticker symbol? GitLab is traded under the ticker “GTLB”
- How many GTLB shares are available? According to a press release from the company, 10,400,000 Class A common shares will be offered for sale.
- How much will GTLB shares cost? The IPO price of one GTLB share is $ 77.
- How much is GitLab worth? As Bloomberg notes, GitLab has a market cap of $ 11 billion at $ 77 per share. How high the market cap will be by the end of today depends on whether the stocks go up or down.
- Is there anything else to know about GitLab? As Julia Herbst from Fast Company reports, GitLab is one of the few companies in the world without a physical headquarters. The 1,300-strong company is completely remote.