The linked strategy page says they are aiming for a liquidity event by 2020. Of any tech company, GitLab seems like the most ripe for a conversion to an ESOP,

The linked strategy page says they are aiming for a liquidity event by 2020. Of any tech company, GitLab seems like the most ripe for a conversion to an ESOP, which is often accompanied by a liquidity event for early investors. GitLab seem to be already operating as an employee-centered business, so from the outside looking in, conversion to an ESOP might be quite compatible with their existing culture. EDIT: When you convert to an ESOP, you often work with an investment bank (such as https://www.awcfund.com/ https://www.awcfund.com/). As I understand, the investment bank provides a loan to a new tax-exempt foundation, which uses the cash to buy the stock from early investors; this foundation then repays the investment bank from revenue. These sorts of investors specialize in ESOP deals and they see the foundation which owns them money as less risky investments since ESOPs can grow faster than similar public for-profit companies since: (a) they are employee owned, and (b) because of the ESOP's tax-exempt status.