UiPath Records Growth, Files For IPO

UiPath has filed for IPO weeks after raising money from investors and getting valued at $35 billion. Prominent backers of the robotic process automation company include Tiger Global Management, Altimeter Capital and Coatue Management. Back in December, UiPath filed for a stock market listing with the SEC.

UiPath plans to issue shares on the NYSE under the ticker 'PATH'. The lead underwriters include Morgan Stanley, J.P. Morgan, BofA Securities, Credit Suisse, Barclays and Wells Fargo Securities.

The New York-based company recorded an 81 percent jump in total revenue in the year ended Jan. 31, 2021, to $607.6 million. On the other hand, net losses narrowed to $92.4 million from $519.9 million a year earlier, according to the filing. Thus, UiPath has become one of the fastest-growin...

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