UiPath “unicorn” founded by Romanian entrepreneurs could be valued at over 25 billion dollars in US IPO

UiPath, the most valuable IT Romania startup, could be valued at over 25 billion dollars, after the initial public offering (IPO) in the United States set the share price at a value between 43 and 50 dollars, Reuters and Seeking Alpha write.

The New York-based company plans to sell 21.3 million shares at a price of between $ 43 and $ 50 per share.

At this level, the company will have a market capitalization of approximately $ 25.4 billion, if the IPO price is set at $ 50 per share.

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UiPath was valued at $35 billion during an earlier round of funding this year.

The company will list its shares on the New York Stock Exchange under the symbol “PATH”. Morgan Stanley and JP Morgan are the main investors underwriting the offer.

UiPath uses artificial intelligence and machine-learning code to help corporations and government agencies automate repetitive and routine tasks in areas such as accounting and human resources, a service that gained popularity during the COVID-19 pandemic.

Founded in 2005 in Romania by former Microsoft officials Daniel Dines and Marius Tirca, the company reported an increase in revenue during the coronavirus crisis.