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Asana Files for Direct Listing Amid Slew of Software IPOs

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Asana Inc., a corporate software maker started by a Facebook Inc. co-founder, filed to go public via a direct listing, disclosing a net loss that has more than doubled year over year along with growing revenue.

The San Francisco-based startup filed paperwork for the listing Monday. Unlike a traditional initial public offering, no new money is raised in a direct listing, which usually sees existing investors start selling their stock as soon as trading starts with no lockup period.