3 things GitLab’s wild IPO pricing says about public markets – TechCrunch
Sitting here waiting for GitLab to actually start trading, I’m still digesting the company’s IPO price.
When we first caught up with GitLab’s IPO filing, TechCrunch did a little math magic and decided that it wasn’t unlikely that the company would manage to secure a $10 billion valuation in its debut.
At that price point, everyone looked set to make a killing; even the company’s most recent investors would see a quick return on their final capital into the DevOps unicorn. The company was last valued on the private markets at around $6 billion in a secondary sale of its equity a year ago, and the last primary price put on GitLab was less than $3 billion back in 2019.
The company surpassed our calculations.
From an initial IPO price range of $55 to $60, GitLab raised its targets sharply to $66 to $69 per share. It was not a surprise to see the…