GitLab started trading on the Nasdaq on Thursday, after raising close to $650 million in its IPO to try and fend off Microsoft's GitHub.
acquired GitHub in 2018 for $7.5 billion, and since that time GitLab has grown rapidly as the only big independent player in the market.
GitLab raised close to $650 million in the offering, and investors purchased over $150 million of additional stock from an entity affiliated with GitLab CEO Sid Sijbrandij.
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