Finance Monthly - January 2022
Rivian was one of the largest IPOs of 2021, raising £8.9bn. The company went public amidst growing market interest in electric vehicles. Popularity among EV vehicles has meant Rivian stocks have jumped 58% since its IPO in November and is expected to grow even further over the coming years. Currently, only 1% of all UK vehicles are made up by EV cars, yet by 2032 this is projected to jump to 55%, so it’s safe to say that EV vehicles are the future of transport. GitLab is an open-source code repository and collaborative software development platform for large DevOps and DevSecOps projects. On its first day of trading, shares of GitLab jumped 35% from its £57.7 share price to £78, and since then it has jumped further to 58%. This increase is largely down to its customer growth and retention. Customer count grew 32% since the start of the year to 3,632. While customers spending over £75,000 grew 35% to 383. In the first six months of 2021, the company made almost £81m in revenue, with almost £70.8m of that becoming gross profit. TaskUs provides digital business outsourcing services to fast-growing technology companies to represent, protect and grow their brands, and the company provides technology to the likes of Facebook, Uber, Netflix and Zoom. Its success has been as a result of a multitude of factors but its increased presence within the food and ride-sharing industry has been intrinsic as the world opens back up. TaskUs’s Q3 revenue for 2021 is £150m, representing 64.2% of year-over- year growth, which was entirely organic. Since its IPO in June, its shares have increased by 178%, and as a result of this success, it has managed to create offices in six locations including the USA, India, and Colombia with plans to further expand operations across the globe. Inve s tmen t 46 Finance Monthly.
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