Automation Software Maker UiPath Rises in Market Debut

Shares of UiPath rose nearly 17% in their market debut, after the robotic-software company's initial public offering raised about $1.3 billion. The stock opened at $65.50, compared with the $56-a-share pricing of its IPO. Early afternoon, the stock traded at $68.38, giving the company a valuation of about $35.5 billion. In February, a $750 million funding valued the company at $35 billion. UiPath, founded in Romania in 2005 and now based in New York City, is one of several companies that bets on RPA, short for robotic process automation, and other automation solutions as a ticket to efficiency.