Software Tools Platform GitLab Jumps 35% in Trading Debut

GitLab nears $15 billion market value after $801 million IPO
GV’s Munichiello says pandemic made platform more essential

WATCH: GitLab CEO discusses going public, crafting a pandemic-era business before Covid-19, and how he’s navigating a 100% remote workforce. (Source: Bloomberg)

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By Katie Roof and Crystal Tse

October 14, 2021 at 4:22 PM UTC

Updated on

October 14, 2021 at 9:17 PM UTC

This article is for subscribers only.

Software development platform GitLab Inc. climbed 35% in its trading debut, giving the company a market value of almost $15 billion.

The shares closed Thursday at $103.89, after the company, along with co-founder Sytse “Sid” Sijbrandij, sold 10.4 million shares for $77 in the IPO to raise $801 million. The shares had been marketed for $66 to $69, a price target that had been elevated from an earlier range of $55 to $60.