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Surreal dream : Romanian startup makes Wall Street splash
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29/04/2021 - 15:30 UiPath says its listing on the New York Stock Exchange, a first for a Romanian company, is the culmination of a surreal dream . Daniel MIHAILESCU AFP 4 min
Bucharest (AFP)
Born in the small Bucharest apartment of a once aspiring writer, software firm UiPath has grown into a $40 billion tech star after becoming Romania s first Wall Street-listed company.
Although Romania is often described as the Silicon Valley of Eastern Europe and the start-up scene is flourishing, no home-grown company has established itself on the global scene quite like this.
The first listing on the New York Stock Exchange of a company of Romanian origin was the culmination of a surreal dream , UiPath wrote on Twitter.
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âWe estimate that Romania’s goal of ensuring speeds of at least 30 Mbps for 80% of households by 2027 will require most of the public funding effort, both in supporting increased coverage and in encouraging the âadoptionâ of new services,â
Dragos Preda, Secretary of State, Ministry of Transport, Infrastructure and Communication told The Diplomat-Bucharest.
âDuring the budget years 2021 – 2027, future developments of state-of-the-art (NGN) backbone and backhaul networks will be supported, either by launching new state aid programs or by taking additional measures that will encourage private investment in broadband infrastructure. It is estimated that the construction of NGN backhaul infrastructure currently exceeds 2 billion Euros, while 750 million Euros are needed to modernize existing networks in urban areas, and 1.25 billion Euros represent the financing needs to achieve NGN coverage in urban and rural areas.”