… Read More
- 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
- 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.
© Provided by CNBC
On the last day of the New York Stock Exchange’s
, 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.
It’s not the only thing they have in common. Both companies were born in the San Francisco