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3 things GitLab’s wild IPO pricing says about public markets


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, …

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