Software Maker UiPath Close To IPO
Software maker UiPath is getting closer to an initial public offering, according to Bloomberg.
The company was valued at $7 billion last year and has made serious advancements since then with helping large companies automate routine processes.
Last year, the company raised $568 million in a funding round that boosted the company's multi-billion dollar valuation. However, co-founder and Chief Executive Daniel Dines has larger goals for the company and wants to continue to grow.
“We just started our growth journey in 2016 and if you look at the average age of a company to do an IPO it’s probably 7 years, so there’s” no reason to hurry, Dines said. “You have to become a public company at some point to allow your employees to get more liquidity, give them stock options. We’re almost there.”
Software maker UiPath is getting closer to an initial public offering.