Asana jumps 10% in trading debut after opening at $4.2 billion valuation
Spencer Platt/Getty ImagesAsana jumped as much as 10% in its first day of trading on Wednesday. The stock opened at $27 per share, 29% above its reference price of $21. The ensuing climb marked a 10% increase from the opening price. With 155 million shares outstanding, Asana sported a valuation of $4.6 billion at its peak after opening at $4.2 billion. Visit Business Insider's homepage for more stories. Asana jumped as much as 10% in its first day of trading on Wednesday, hitting a high of $29.79. Asana is a work management software company based out of San Francisco. The firm went public via a direct listing rather than the traditional IPO route. With a reference price of $21 per share, Asana opened at $27 per share in the first minute of trade, giving it a valuation of $4.2 billion. At its peak on Wednesday, Asana sported a valuation of $4.6 billion, based on about 155 million shares outstanding. Asana was founded in 2008 and markets a web and mobile application designed to help ...