$4.4 billion Asana used its own tool to plan its successful direct listing today, and its CEO says it proves how useful it can be to its next wave of big customers
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The exercise was an example of how powerful Asana's tools can be to create a "plan of record" and help organizations coordinate work more efficiently, the executives say. Asana — first started up in 2008 by Facebook cofounder Dustin Moskowitz and early Facebook and Google engineer Justin Rosenstein — makes a project-tracking tool that helps teams large and small coordinate and manage their daily, weekly, and monthly tasks. The founders have said theyLeading up to the day of the direct listing, Asana used its own tools to coordinate its public debut, including an Asana project dedicated to picking its ticker symbol, ASAN, executives told Business Insider.
Asana has already built a solid business: Ahead of its listing, Asana told would-be investors last week that it had, up 57% from the same period of 2019, as the pandemic-driven remote work boom drives companies towards the tool. It also showed losses of $33.6 million over the same span. Overall, Asana has over 900 employees globally and 82,000 paid customers.
"When we're all working from home, it is more confusing and it takes more energy to figure out how your work matters," Hood said. "The way that we are working has changed permanently. Even when we go back to the office, there's a new set of tools, like Asana, which will help teams work together more effortlessly."
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