The marketplaces are closed and the verdicts remain in: investors liked what they saw in Palantir and Asana .

The two companies, which debuted this morning in double (and duel) direct listings, continued to show that business tech business without the brand recognition of Spotify (which performed its own direct listing back in 2018) can make direct listings work. So far, the evidence is good that the system isn’t shaking off investors.

Michael Nagle/Bloomberg via Getty Images Asana closed its very first trading day at$28.80 a share– a gain of 37 %versus its referral price of $21 a share. The business’s first trade was at $27. Palantir closed the day at $9.73, a gain of 34% versus its recommendation cost of$7.25. Its first trade was at $10. Asana is valued at about$4.3 billion at close, while

Palantir reached$24.8 billion, based upon its completely diluted share count, consisting of current securities offered. As an aside, my Equity co-host Natasha Mascarenhas and I did an “Equity Shot”talking more about these early numbers. Tune in if you want to hear our conversation and analysis:

That done, with big vibrant numbers on the board, there were a number of winners.

Creators Fund, which is the just significant financier shared in between the 2 companies, has a lot of capital inbound. The firm owns 5.8% of Asana and approximately 6.6% of Palantir, netting it somewhere around $1.8 billion provided today’s appraisals (that’s certainly back-of-the-envelope math mind you).

Criteria owns 9.3% of Asana, and a number of other investors consisting of Japanese insurer SOMPO, Disruptive Technology Solutions, UBS, and 8VC own considerable stakes in Palantir.

The other winners are the founders of these companies. Dustin Moskovitz keeps a 36% stake in Asana, while his cofounder Justin Rosenstein holds a 16.1% stake. Over at Palantir, the trio of founders of Alex Karp, Stephen Cohen, and Peter Thiel now have liquid billions at their collective disposal.

Asana founders Justin Rosenstein and Dustin Moskovitz. Picture by means of Asana Obviously, staff members will enjoy to get liquidity too. Asana does not have a lockup period, and so its experts and workers are free to trade. Palantir paired a direct listing with a lockup, and so just about 28% of the business’s shares are eligible for sale today. The remainder will be licensed to be sold over the next year.

In an interview with Moskovitz soon after the marketplaces closed today, he stated that “it’s been an amazing morning, however ultimately it’s simply one step in a lot longer journey towards fulfilling our mission” (you can find out more of our interview with Moskovitz on Bonus Crunch).

While it’s simply one trading day, it was a favorable one for both companies, which provides even more proof that the timeless IPO now has stiff competition from direct listings and other alternative approaches like SPACs.

Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.