UiPath reaches 35 billion Euro capitalization following debut on NYSE

UiPath, the biggest robotic processing automation (RPA) company in the world, launched by two Romanian entrepreneurs in Bucharest, reached a market capitalization of over USD 35 billion Euro 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 7.4 billion Euro.

UiPath’s shares started trading on NYSE at 65.5 USD, some 17% above the IPO price announced one day earlier (56 USD) and climbed as high as 70 USD shortly after debut.

“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.

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,” said Daniel Dines, Co-Founder and CEO, UiPath.