UiPath CEO Daniel Dines speaks at the New York Stock Exchange as his RPA software business rang the opening bell on April 21, 2021.Walking the halls of the New York Stock Exchange on Wednesday morning en route to ring the opening bell, UiPath CEO Daniel Dines was struck by a framed hockey stick. Signed by all the players of the famed “Miracle On Ice” U.S. men’s hockey team, which defeated the U.S.S.R.
That gives co-founder Dines, who grew up in communist Romania dreaming up becoming an author, but studying programming instead, a net worth north of $6 billion. At investor CapitalG, Laela Sturdy says UiPath’s aggressive expansion into international markets and acquisitions of smaller automation businesses — core to the company’s ability to offer an end-to-end automation platform that goes beyond RPA — took time to pay off.
“People don’t want to break the issue price, because it creates a lot of negative press,” Dines said. “This is why I think traditional IPOs are priced lower than the trading days. But breaking the issue price means that you priced it well.”