One week in, the biggest IPO in the relatively young RPA space has been an unqualified success. While its road to going public took several unexpected turns, UiPath’s stock closed Monday at nearly $80, more than 44 percent higher than the offering price of $56 per share.
At Monday’s close, UiPath’s market capitalization stood at $41.95 billion, $14 billion more than its expected valuation at the $56 per share IPO target and $7 billion higher than the company was valued after its $750 million raise in February.
After last week’s IPO, UiPath CEO Daniel Dines shared this statement with RPA Today:
“Today marks a major milestone for UiPath. Six years ago, this company consisted of 10 people working in a small apartment in Romania. Now, we are a multinational business operating in nearly 30 countries and one of the fastest-growing enterprise software companies in history. I am also incredibly proud that we are the first Romanian-born company to go public on the New York Stock Exchange,” said Dines. “While today signifies a new chapter in UiPath’s story, we are still in the early days of a multi-year journey to the fully automated enterprise. We will continue to focus on scaling automation so we can set people free of repetitive work and truly unlock human potential at scale.”