PitchBook – Devstyler.io https://devstyler.io News for developers from tech to lifestyle Fri, 20 Jan 2023 08:10:37 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.2 Venture Capital for European Ecosystems Reduced to €90 Million https://devstyler.io/blog/2023/01/20/venture-capital-for-european-ecosystems-reduced-to-e90-million/ Fri, 20 Jan 2023 08:10:37 +0000 https://devstyler.io/?p=98834 ...]]> Pitchbook’s annual dataset shows that venture capital for European ecosystems was slightly lower last year, down to €91.6m from a record €108.9m in calendar year 2021, tech.eu reports.

Overall, 65.6% of the total deal value came from late-stage venture capital funding rounds and “venture growth” rounds (the latter is a new pitchbook classification introduced to capture mid- and later-stage activity). But this is a small increase from 64.8% in 2021.

The value of foreclosures reached the third highest level on record (€38.3 million) despite the worsening economic conditions and lower valuations, but the more difficult conditions are expected to continue this year. Unfortunately, exit values have fallen dramatically compared to last year (€137.7m) and according to Pitchbook 63 public IPOs have raised just €13.4bn. This trend is likely to continue into 2023, making the prospect of a corporate takeover a more enticing choice.

]]> GitLab Files to Go Public in the U.S. https://devstyler.io/blog/2021/09/20/gitlab-files-to-go-public-in-the-u-s/ Mon, 20 Sep 2021 08:47:37 +0000 https://devstyler.io/?p=71728 ...]]> Software development startup GitLab Inc. filed for an initial public offering, disclosing mounting revenue and losses.

The company in its filing Friday with the U.S. Securities and Exchange Commission listed the size of the offering as $100 million, a placeholder that will change when terms of the share sale are set. GitLab, which helps software developers share and manage code, was valued at $6 billion after a private, secondary share sale by an investor in January, according to data provider PitchBook.

The company had a net loss of $69 million on revenue of $108 million for the six months ending July 31, according to the filing. That compared with a $44 million loss on $64 million in revenue for the same period the previous year.

Though incorporated in Delaware in 2014, GitLab operates as a remote-only company and doesn’t have a corporate office, according to its filing. Its 1,350 team members are located in more than 65 countries.

Chairman and Chief Executive Officer Sytse “Sid” Sijbrandij is listed as the largest holder of the company’s Class B shares, which will have 10 votes each compared with one vote apiece for the Class A shares sold in the IPO. Outside investors with stakes of 5% or more include funds and affiliates of August Capital, Alphabet Inc.’s GV, Iconiq Capital and Khosla Ventures.

The offering is being led by Goldman Sachs Group Inc., JPMorgan Chase & Co. and Bank of America Corp. The company plans for its shares to trade on the Nasdaq Global Market under the symbol GTLB.

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