Collaborative work platform: Asana launches its IPO process
The Asana collaborative work platform is shifting into high gear. She has just discreetly registered the famous form S–1 with the Securities and Exchange Commission for a direct listing.
As a reminder, Asana, based in San Francisco, was founded in 2009 by a co-founder of Facebook, Dustin Moskovitz, and Justin Rosenstein, former Google and Facebook – at the origin of features such as the Like button and Facebook Pages. In January 2018, the company notably raised $ 75 million from Generation Investment Management, an investment fund co-founded by Al Gore. In total, she raised just over $ 213 million. Its latest valuation was estimated at $ 1.5 billion.
Asana is more particularly a project management tool. Its platform allows you to share information, assign tasks, define priorities and deadlines, follow each step or even create graphic project plans.
The solution is therefore similar to those offered by companies like Airtable, Trello or Wrike. To stand out, these startups must quickly anticipate features that will simplify project management for users. Recently, For example, Asana has focused on automation with a tool that allows you to create “rules” to automate recurring tasks. Its solution can also communicate with a collaborative messaging system like Slack. For example, it is possible to receive a notification on Slack when changes are made to tasks on Asana.
At the end of last year, the startup claimed more than 70,000 paying customers and a presence in 195 countries. For example, she cites AppAnie, Salesforce and even NASA among her clients.
By choosing to do a direct rating, Asana is following the path already marked by Spotify and Slack. As a reminder, direct quotation is less costly for the company. In addition, in addition to bypassing investment banks, the direct listing process avoids diluting the share of those who are already shareholders. On the other hand, it is also unpredictable, the price of the securities not being fixed in advance. No specific date has yet been announced for Asana’s introduction, with the startup just stating that the introduction will take place after the SEC completes its inspection.