GitHub rival GitLab files to go public

GitLab, the competitor to Microsoft’s GitHub, has recently announced its plans to go public on the Nasdaq under the ticker GLTB. Following its valuation of $6 billion in a secondary share sale late last year, Gitlab has been frictionlessly growing throughout the pandemic.

The cloud-based software giant is known for its pioneering of remote work in 2014, long before the coronavirus pandemic caused its competitors to transition to fully remote. Since its creation in 2014, GitLab now features 1,350 employees in over 65 countries, and a skyrocketing net revenue retention rate, up 152% in July, which is a key metric of a healthy subscription-based company.

For more information about GitLab, and its IPO, see this article by CNBC.

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