{"id":10022,"date":"2021-10-05T18:04:02","date_gmt":"2021-10-05T15:04:02","guid":{"rendered":"https:\/\/roboforex.com\/blog\/?p=10022"},"modified":"2023-09-06T14:33:19","modified_gmt":"2023-09-06T11:33:19","slug":"ipo-of-gitlab-a-devops-platform-from-kharkiv","status":"publish","type":"post","link":"https:\/\/roboforex.com\/blog\/2021\/10\/05\/ipo-of-gitlab-a-devops-platform-from-kharkiv\/","title":{"rendered":"IPO of GitLab: A DevOps Platform from Kharkiv"},"content":{"rendered":"\n

When developing today’s software of varying sophistication degrees, onу is required to write hundreds of thousands of pages with code. To simplify the process, developer teams divide them into parts, which are later combined into one codebase. Developers came to this way of coding because of the growth of complexity and number of functions in some applications, for example, taxi ordering or car on-board computers. Using this approach, they are able to provide the necessary quality, speed, and control over product development.<\/p>\n\n\n\n

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A similar opensource collaboration platform was created by GitLab, the company founded by a programmer from Kharkiv, Dmitriy Zaporozhets. GitLab has filed a request to the SEC to have an IPO at the NASDAQ under the “GTLB” ticker. The date of the IPO hasn’t been announced yet. Let’s take a closer look at whether the company’s shares are interesting for investments.<\/p>\n\n\n\n

<\/span>Business of GitLab<\/span><\/h2>\n\n\n\n

The company was established in Kharkiv, Ukraine. At first, the project was created as a repository (a place for storing supporting data) with a code. It simplified the collaborative development of one project by several specialists.<\/p>\n\n\n\n

Initially, GitLab looked more like a hobby of its creators because it implied no monetization, only voluntary donations. The company started its business path with the help of Sid Sijbrandij, a programmer from the Netherlands (his current position in the company is Engineering Fellow), who addressed Dmitriy Zaporozhets with the idea of developing GitLab together.<\/p>\n\n\n\n

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The company was officially registered in 2014 and attracted its first financial resources a year later through Y Combinator, an American seed money startup accelerator. According to the updated business model, retail users could work on the platform for free. However, any commercial use was charged for consulting, configuring, and licensing. In 2018, Google<\/a> became one of the investors through its venture capital fund GV.<\/p>\n\n\n\n

\"Key<\/a>
Key performance indicators<\/a> of GitLab.<\/em><\/figcaption><\/figure>\n\n\n\n

The repository was replaced by a DevOps platform, which provides users with all tools necessary for developers. The platform offers a whole cycle, including creation, build, verification, security testing, deployment, and monitoring. Over 380 companies worldwide became GitLab’s subscribers, such as Ticketmaster, Goldman Sachs<\/a>, Nvidia<\/a>, and Delta.<\/p>\n\n\n\n

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GitLab is not “brick-and-mortar” as its employees work remotely. The company’s personnel consist of 1,300 developers in 65 countries. To help new and current employees, the company created a corporate wikipedia.<\/p>\n\n\n\n

Now let’s talk about the company’s competitors and its target market prospects.<\/p>\n\n\n\n

<\/span>The market and competitors of GitLab<\/span><\/h2>\n\n\n\n

According to the data provided by GitLab itself, the company’s target market in 2020 equaled $40 billion. By 2024, it is expected to reach $54 billion. In this case, the average annual growth rate will be 8.75%. at the moment, GitLab’s market share is only 0.6% (given the revenue of $232 million). The company clearly has room for improvement: the growth can be achieved by “conquering” competitors’ market share and due to the target market increase.<\/p>\n\n\n\n

GitLab’s key competitors are:<\/p>\n\n\n\n