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What is an Asana IPO?

An Asana IPO refers to a direct listing. In a direct listing, the company does not enlist the help of an underwriter to help them court investors, create new shares, and determine a starting price per share. Instead, the company's existing shares are listed directly on a stock exchange.

How much is Asana stock worth?

Asana stock opened at a share price of $27, which was 22% above the reference price of $21 per share set by the NYSE. Asana's valuation is $3.99 billion, compared to direct competitor Slack Technologies, Inc.'s ( WORK) $13.76 billion.

Why is Asana going public?

The company is going public at a time when most industries face the biggest challenges in terms of remote work coordination, productivity and digital transformation amid the ongoing COVID-19 pandemic. Asana made its public debut through a direct listing with ticker ASAN.

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