GitLab is eyeing a direct listing in November 2020, but its CEO explains why the $2.75 billion company could still go the traditional IPO route
Sijbrandij highlighted both of those considerations, as well as the added transparency that comes with direct listings, as advantages over an IPO.
GitLab is using some of that capital to bolster its ranks, growing from 400 to 1,100 employees this year. Next year, Sijbrandij said, it is planning to add another thousand employees. Sijbrandij said GitLab, which already did a non-deal roadshow, will hire a senior director of investor relations. For a company known for bucking corporate trends by having an all-remote staff, it's a sign that its path to operating publicly will look relatively traditional. Mid-November is the goal for going public, but he said timing could be sooner or later.
November 16 was the original listing date, chosen because it's the CFO's twins' birthday. But when the CFO realized it was a Monday – "not a good date" – he delayed it by two days, "to help people trying to process the weekend," Sijbrandij said.
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