The latest tech IPO of 2021 is GitLab, which begins trading today. Its initial public offering will be highly watched by those interested in cloud computing platforms. Here’s what you need to know:
- What is GitLab? It’s a cloud-based depository of software. The platform allows developers to share and contribute to each other’s work. In this way, GitLab competes most directly with Microsoft’s GitHub.
- What exchange will GitLab trade on? GitLab will trade on the Nasdaq, beginning today, October 14, 2021.
- What is GitLab’s stock ticker symbol? GitLab will trade under the ticker “GTLB”
- How many GTLB shares are available? 10,400,000 shares of Class A common stock will be up for purchase, per a company press release.
- How much will GTLB shares cost? The IPO price of one GTLB share is $77.
- How much is GitLab worth? As Bloomberg notes, at $77 per share, GitLab has a market cap of $11 billion. What its market cap will be by the end of today depends on if the shares rise or fall.
- Anything else to know about GitLab? As Fast Company’s Julia Herbst reports, GitLab is one of the few companies in the world with no physical headquarters. The 1,300-strong company is completely remote.