Coding platform GitLab aims for nearly $9 bn valuation in U.S. IPO

GitLab, a coding platform backed by ICONIQ Capital and Khosla Ventures, is looking to raise as much as $624 million through an initial public offering in the United States, targeting a valuation of nearly $9 billion.
Dollar spending on technologyGitLab plans to sell 8.42 million shares of its class A common stock in the IPO, while existing shareholders are offering 1.98 million Class A shares that are priced between $55 and $60 per share.

GitLab, which creates online tools to reduce the software development cycle by allowing teams to collaborate, was last valued at $6 billion after a secondary share sale in January, according to startup data platform PitchBook.

Industry leaders such as Nvidia, Siemens and Goldman Sachs are among its customers, according to the company’s website.