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Ai Startup Uipath Jumps 26% During Its Public Debut, Pushing Valuation To $37B | Markets Insider

by markets.businessinsider.com posted 5months ago 28 views
Summary List PlacementShares of UiPath jumped as much as 26% on Wednesday during its public debut at the New York Stock Exchange, bringing its valuation $37 billion at intraday highs. Founded in Bucharest, Romania, the automation software startup opened at $65.50, 17% higher than its initial public offering price of $56 per share. The rally in UiPath indicates the growing demand for such services as more businesses automate their operations, especially during the pandemic. "COVID accelerated cloud adoption helping both new companies build lasting franchises, and existing companies stay relevant," Dharmesh Thakker, general partner at Battery Ventures, told Insider.