Asana valued at $4.5bn as market awaits Palantir debut

Marco Green
October 1, 2020

Asana will be joined later in the day by Palantir Technologies, another company backed by Silicon Valley billionaire Peter Thiel that will debut via a direct listing on the NYSE.

We looked at Palantir's stock price over time based on internal trades, which have gone from around $5 a share at the beginning of January 2019 to $9.17 a share earlier this month as the company prepped its prospectus to go public.

"Broadly speaking COVID has been a tailwind for our business", Sankar said in an interview. At its current share price, Asana is valued at roughly $4.4 billion, and Palantir comes out to about $24 billion give or take.

The company, led by CEO Alex Karp, has seen strong demand for its services, with revenue rising nearly 50% to $481.2 million in the first six months of 2020 from the comparable period a year earlier.

Palantir, the data analysis company, will also enter the public markets through a direct listing, an alternative to a traditional initial public offering, but its shares had yet to price by lunchtime in NY.

Existing investors can sell their shares directly to the market in a direct listing. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes.

Shares of workplace software maker Asana Inc surged almost 29% in their debut on the New York Stock Exchange, marking a strong opening for the first of two notable direct listings on Wednesday.

Palantir is preparing for its public debut tomorrow morning on the NYSE (after 17 years), and now we are getting some data on how the company's shares are being valued by investors.

Morgan Stanley, Credit Suisse Group AG and Goldman Sachs & Co were the lead banks advising Palantir on its listing.

Other reports by Click Lancashire

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