Asana jumps 10% in trading debut after opening at $4.2 billion valuation


  • Asana jumped as much as 10% in its first day of trading on Wednesday.
  • The stock opened at $27 per share, 29% above its reference price of $21. The ensuing climb marked a 10% increase from the opening price.
  • With 155 million shares outstanding, Asana sported a valuation of $4.6 billion at its peak after opening at $4.2 billion.
  • Visit Business Insider’s homepage for more stories.

Asana jumped as much as 10% in its first day of trading on Wednesday, hitting a high of $29.79.

Asana is a work management software company based out of San Francisco. The firm went public via a direct listing rather than the traditional IPO route.

With a reference price of $21 per share, Asana opened at $27 per share in the first minute of trade, giving it a valuation of $4.2 billion. At its peak on Wednesday, Asana sported a

Read More

Facebook’s billions are backing two tech direct listings on Wednesday: Palantir and Asana

  • Palantir and Asana are pursuing direct listings, following the path of Spotify and Slack.
  • Peter Thiel, an early Facebook investor and board member, co-founded Palantir and invested early in Asana.
  • Dustin Moskovitz made billions of dollars as a Facebook co-founder and used some of it to start Asana in 2008.



Peter Thiel wearing a suit and tie smiling at the camera


© Provided by CNBC
Peter Thiel

On the last day of the New York Stock Exchange’s

NYSE president Stacey Cunningham: September is on track to be the busiest month for IPOs due to pent-up demand

UP NEXT

UP NEXT

, two tech companies are taking a different approach to going public.

Software makers Palantir and Asana are launching direct listings on Wednesday, allowing existing shareholders to sell stock to new investors rather than raising money through a traditional share sale.

Loading...

Load Error

It’s not the only thing they have in common. Both companies were born in the San Francisco

Read More