Code hosting platform GitLab (stock code GTLB) officially launched on ThursdayNASDAQOn the first day of listing, it opened 23% and maintained an upward trend in the intraday period. By the close, it had surged 34.92%. The stock price was 103.89 US dollars, and the market value was 14.9 billion US dollars.

GitLab set its IPO offering price at $77 late Wednesday, at the high end of the $66-69 price range.Goldman Sachs,J.P. MorganInvestment banks such as Bank of America Securities acted as co-underwriters for this IPO.

GitLab was founded in 2014 to provide software development and collaboration tools for programmers. The company is headquartered in San Francisco, California, and has 1,350 employees in more than 65 countries or regions. asMicrosoftOne of GitHub's major competitors, GitLab has received widespread market attention and is favored by many developers and investors.

GitLab's revenue for the most recent quarter increased 69% from the same period last year to $58.1 million. At the same time, the company's net loss also increased from 9.4 million US dollars in the same period last year to over 40 million US dollars.