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Asana Plans Direct Listing Later This Year

By Martin Peers
· · Source: Bloomberg

Asana raised about $200 million in a convertible debt offering, according to Bloomberg, with most of the money coming from its co-founder Dustin Moskovitz. The company, which sells collaboration software for companies, plans to go public later this year through a direct listing. Asana had been one of a number of high profile tech firms that, before the pandemic hit, was expected to go public...

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When San Francisco–based Retool raised new funding this month, investors valued the maker of software development tools at just below $1 billion, or 100 times its annualized revenue of roughly $10 million. This price, essentially a bet that the three-year-old firm’s growth has just begun, is becoming the new standard for financing hot Silicon Valley startups.

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