UiPath IPO: 5 things to know about the ‘software robots’ company valued at nearly $30 billion

UiPath Inc. is launching its initial public offering at a valuation close to what it received from venture-capital investors, with help from automation it cheerfully calls “software robots.”

Late Tuesday, UiPath priced its IPO at $56 a share, raising more than $1.3 billion and giving the company an initial market capitalization of $29.1 billion, which is less than the self-valuation of $35 billion following a $750 million round of venture funding on Feb. 1. It’s expected to begin trading Wednesday on the New York Stock Exchange under the ticker “PATH.”

“We went against the rules of perfecting the business model first in one territory, and instead we rapidly expanded globally to the United States, Europe, and Asia simultaneously,” the CEO wrote in a letter. UiPath’s Class B shares carry 35 votes, while Class A shares — being offered in the IPO — carry one vote. The S-1 filing revealed that CEO Dines holds 100% of the Class B shares and 6.5% of the Class A shares, for 88.1% of the voting power.

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UiPath climbs 17% in stock market debut after one of largest US software IPOs in historyUiPath and its investors sold shares at $56 a piece in the IPO, bringing in $1.34 billion, one of the biggest IPOs ever for a U.S. software company
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As UiPath Shares Jump 20% In IPO, Billionaire CEO Daniel Dines Talks ‘Incredible’ Odds From Romania To $30 Billion-Plus Market CapUiPath CEO Daniel Dines talks IPOs vs. direct listings, turning down Masa, and how improved efficiency got his company to trade on the New York Stock Exchange on Wednesday.
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