UiPath reaches USD 35 bln capitalization upon NYSE listing. CEO: Our journey began with 10 people in an apartment in Romania
UiPath, the biggest robotic processing automation (RPA) company in the world, launched by two Romanian entrepreneurs in Bucharest in 2005, reached a market capitalization of over USD 35 bln on its debut on the New York Stock Exchange (NYSE), on April 21.
The company’s co-founder and CEO, Daniel Dines, thus officially became the richest Romanian, as his stake is currently worth over USD 7.4 bln.
UiPath’s shares started trading on NYSE at USD 65.5, some 17% above the IPO price announced one day earlier (USD 56) and climbed as high as USD 70 shortly after debut.
“Today is a big day for UiPath: we begin life as a public company on the New York Stock Exchange,” Dines said in a public announcement.
“We started UiPath because we realized we could help humans reduce the time and stress that comes from menial, administrative business tasks. This work has made them robotic. With our technology, people have time to focus on the work they actually enjoy, the work they set out to do. We made robots so people didn’t have to be robots,” he added.
He also said he was extremely proud that UiPath became the first Romanian-born company listed on the New York Stock Exchange.
“Our journey began with 10 people in an apartment in Romania. We grew in six years into a multinational business operating in nearly 30 countries, becoming one of the fastest-growing modern enterprise software companies ever. It is a tribute to our product, our speed of innovation, and the market opportunity being perfectly aligned. But it is also a tribute to the people and the culture of UiPath.”
Dines also said that the company’s humble beginnings have helped it find its most important value – humility.
„I am not saying we are humble; humility is an aspiration, and it is our operational framework. When you put humility at the core of your decision-making and communication process, it forces you to listen and adapt quickly. Being customer-centric is a natural progression. And customer-centricity keeps our humility in check and our work environment healthy,” Dines said, adding: „If there is one thing I am proud of, it is our culture. If anything, this is going to be our legacy – a company built on the foundation of humility.”
„As a public company, our mission will continue to be accelerating human achievement by empowering people to delegate work to the robots. This is the promise of the fully automated enterprise. The future of work is human, it’s creative, it’s social, and it’s dealing with the unexpected – together,” he comcluded.
(Photo source: UiPath Facebook page)