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Potential Sale of GitLab Sparks Increase in Stock Value

By: Sheldon

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Reports have surfaced naming Datadog as a potential buyer of developer platform company GitLab, which is backed by Alphabet’s Google. The news of a possible acquisition caused GitLab shares to surge by 10% in early trading. Datadog, a cloud-scale monitoring provider, is reportedly among the interested parties looking to purchase GitLab.

Alphabet, through Google Ventures, is an investor in GitLab with a 22% voting stake in the company. This potential sale comes after Alphabet recently abandoned efforts to acquire HubSpot in what would have been its largest acquisition to date. With a market capitalization exceeding $8 billion, GitLab boasts over 30 million registered users and provides development, security, and operations solutions to over half of Fortune 100 companies.

Both GitLab and Datadog have not responded to requests for comment on the reports. The situation continues to develop as the tech industry closely watches for any official announcements regarding the potential sale of GitLab to Datadog or other interested parties.

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