Asana IPO News 2019: Valuation, IPO Date, Share Stock Price Not Clear Yet But Growth Is Clear

Asana is one of the leading project management applications that managed to raise millions in the initial co-founding round back in 2008 when the company started out in the Silicone Valley.

The company most recently had an E funding round that brought 50 million dollars to Asana, placing the company among unicorns with 1.5 billion dollars in estimated value.

According to the latest announcement; Asana IPO is not coming in 2019, they’ll be pursuing an IPO this year.

Although there is not Asana IPO by the end of 2019 as they lack funds and the latest raised amount will be used for international expansion, Asana has a great potential of becoming one of the hottest IPO in the sector.

Should You Invest in Asana IPO and How Profitable it is?

As SaaS (software-as-a-service) is progressing as a sector for the past several years, companies and tech startups like Asana are emerging to try and take a favorable market share in the industry.

Asana is offering services for collaboration and tracking with the aim to make working and collaborating within companies and businesses much easier and simpler, which is how the company managed to report a growth of 2.4 times its previous, ARR, while the company had a successful funding round E in the last quartal of 2018 when the tech startup raised 50 million dollars in funding.

At the same time, the company announced preparing their IPO that should be out in 2019.

What to Expect from the Upcoming Asana IPO?

75 million dollars from their E funding round

Earlier in 2018, Asana made it with 75 million dollars from their E funding round, while round C brought 90 million, altogether bringing estimates at 1.5 billion dollars.

Q2 of 2019

Asana IPO is available through pre-IPO sale, while the initial offering should be opened for public trading in the course of the next several months and no later than during Q2 of 2019.

50,000 paying customers

The company currently has around 50,000 paying customers, while the funds collecting through private investors will be used for expansion according to the company’s representatives.

Immense growth potential

Asana has been in the business of project management and SaaS industry since 2008 and during this time period, the company showed an immense growth potential that investors such as Benchmark and Founder Fund noted right at the beginning of company’s business.

Although Asana might be not the shiniest IPO upcoming in 2019, it will most certainly attract more investors once the company goes public.

Asana Hits Growth With $1.5 Billion Valuation

Facebook Cofounder’s Productivity Startup – Solving employees’ workplace woes is a crowded market, but investors are doubling down on productivity company Asana to beat the pack. According to Forbes, the company announced that it had raised $50 million in Series E funding from Al Gore’s Generation Investment Management, raising the company’s valuation to $1.5 billion. It’s the second funding round and a $600 million valuation jump since January, when Generation also led a $75 million round in the company cofounded by Facebook cofounder Dustin Moskovitz and early Facebook employee Justin Rosenstein. The combined $125 million raised in 2018 more than doubles the total funding Asana has brought in since its founding in 2008, to $213 million.

Benchmark, Andreessen-Horowitz and Founder Fund Funded

Dustin Moskovitz is the co-founder of FB and has a net worth of $9.3 billion. Not bad for someone who is 34 years old.

So why not try again? Well, in 2008 he co-founded Asana, a project management app. As should be no surprise, he raised millions from some of Silicon Valley’s best investors like Benchmark, Andreessen-Horowitz and Founder Fund.

The latest funding, as Asana announced a round of $50 million at a $1.5 billion valuation. The money will be used primarily for international expansion. The company also has 50,000 paid customers.

True, Asana probably does not need the money from an IPO as the company has little problems snagging private capital. But then again, as the collaboration space gets crowded, a public offering could provide much more visibility for the company — and also help with a more aggressive M&A strategy.

Disclaimer: The information on this site is provided for discussion purposes only, and should not be misconstrued as investment advice. Under no circumstances does this information represent a recommendation to buy or sell securities.
Aamir Kapoor is a fintech writer specializing in cryptocurrency and blockchain. He has a background in finance and banking and was a researcher.