Asana, the project management software developer, dropped its filing for a direct listing on one of the busiest days of a surprisingly busy late summer. The task management toolkit provider started by Facebook co-founder Dustin Moskovitz and early FB employee Justin Rosenstein, isn't as well known or as well financed as today's other big public offerings — the game engine developer, Unity, and the $14 billion valued enterprise cloud storage provider Snowflake — but its modest $1.5 billion valuation may in some way make it a better bellwether for investor appetite in new tech offerings. If the idea is that you have to spend money to make money, then Asana is doing exactly as it should, because the company has been growing.
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