Asana jumps 10% in trading debut after opening at $4.2 billion valuation


  • Asana jumped as much as 10% in its first day of trading on Wednesday.
  • The stock opened at $27 per share, 29% above its reference price of $21. The ensuing climb marked a 10% increase from the opening price.
  • With 155 million shares outstanding, Asana sported a valuation of $4.6 billion at its peak after opening at $4.2 billion.
  • Visit Business Insider’s homepage for more stories.

Asana jumped as much as 10% in its first day of trading on Wednesday, hitting a high of $29.79.

Asana is a work management software company based out of San Francisco. The firm went public via a direct listing rather than the traditional IPO route.

With a reference price of $21 per share, Asana opened at $27 per share in the first minute of trade, giving it a valuation of $4.2 billion. At its peak on Wednesday, Asana sported a

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With Asana, JFrog, Palantir, Snowflake, Sumo and Unity, we’re in peak season for tech IPOs

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Pandemic numbers are looking better, it’s still a couple months before U.S. elections and a growing line of tech companies have already ventured out into public markets successfully this summer. Hard to imagine conditions beating the present any time soon, whether you’re traditionally banked, going with a direct listing or getting inside a SPAC vehicle.

We covered the frenzy this week with an eye toward what other startups can learn about the way these companies have arrived at this point. Here are the headlines for each, from Asana to Unity.

But first, consider this special episode of our Equity podcast from Wednesday, where the team reviews the news. And for a faster(ish) read, Extra Crunch subscribers should also check out Alex Wilhelm’s “super-long roundup” of

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