The Alphabet and Tencent-backed automation software producer, valued at $35bn as of last month, has filed for a $1bn offering.
US-based robotic process automation (RPA) technology provider UiPath filed for a $1bn initial public offering on Friday that would represent an exit for internet technology conglomerate Alphabet and internet group Tencent.
UiPath produces RPA software which enables systems to replicate human behaviour, automating a range of business processes. It has almost 8,000 customers and made approximately $608m in revenue in 2020 while cutting its net loss from $520m to $92.4m.
The company, which was valued at $35bn in its…
