UiPath pursues one of the biggest software IPOs ever as investors rotate out of cloud stocks

UiPath, which is a fast-growing enterprise software company, is likely to have a red-hot IPO this week. On Monday, the company increased the IPO range from $43-$50 to $52-$54 as well as the number of shares to be issued, with the figure moving from 21.3 million to 23.9 million…

UiPath is one of the leaders in the RPA (Robotic Process Automation) market, which helps to automate and streamline tedious and repetitive processes. The UiPath platform is actually a hybrid of cloud solutions and Windows software, unusual for recent tech IPOs.

That said, the technology approach has been spot-on. The fact is that Windows is prevalent across corporate IT environments and allows for better integrations.

Background On UiPath

The founder and CEO of UiPath is Daniel Dines. He grew up in Romania and his family had little money, with Dines having to borrow a computer to learn programming.

Eventually, he would become one of Microsoft’s top coders from 2001 to 2005. After this, he launched his startup – which was called DeskOver—but it was a struggle to say the least. Dines focused on helping with integrations and outsourcing, which were highly competitive categories.

By 2015, the company was on the verge of going bust, but Dines saw an interesting opportunity in the RPA market – primarily because of feedback from a large customer in India.

This turned out to be transformative. Dines changed the name of the company to UiPath and growth surged, primarily because it was aggressively striking partnerships with consulting firms and BPO (Business Processing Outsourcing) companies.

What’s more, the company’s decision to make a free…

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