The shares rose 35% in its debut in New York, boosting the CEO’s net worth to US$2.8bil (RM11.65bil). Sijbrandij owns an 18% stake in the company and sold almost two million shares in the offering. Other shareholders include Khosla Ventures and Iconiq Capital.
Even in the quirky world of software development, GitLab Inc stands out.
The company has no headquarters. It’s released a new version of its software on the 22nd of each month for more than nine years and publishes its entire company handbook – replete with details of corporate strategy –online, free for anyone to read and contribute to.The idiosyncrasies are the work of GitLab’s chief executive officer, Sytse “Sid” Sijbrandij, a Dutch web developer who started exploring a business based around open-source programming tools in 2012. The company began trading yesterday in New York after it priced its initial public offering Wednesday at US$77 (RM320.28) a share.
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