diff --git a/codalab/common.py b/codalab/common.py
index e6e61168f..6882ce8cf 100644
--- a/codalab/common.py
+++ b/codalab/common.py
@@ -8,7 +8,7 @@
 
 # Increment this on master when ready to cut a release.
 # http://semver.org/
-CODALAB_VERSION = '0.4.7'
+CODALAB_VERSION = '0.5.0'
 
 
 class IntegrityError(ValueError):
diff --git a/docs/REST-API-Reference.md b/docs/REST-API-Reference.md
index 17b712f8e..b4d094969 100644
--- a/docs/REST-API-Reference.md
+++ b/docs/REST-API-Reference.md
@@ -1,6 +1,6 @@
 # REST API Reference
 
-_version 0.4.7_
+_version 0.5.0_
 
 This reference and the REST API itself is still under heavy development and is
 subject to change at any time. Feedback through our GitHub issues is appreciated!
diff --git a/frontend/src/constants.js b/frontend/src/constants.js
index 16496ef87..c761f3c73 100644
--- a/frontend/src/constants.js
+++ b/frontend/src/constants.js
@@ -1,4 +1,4 @@
 // Should match codalab/common.py#CODALAB_VERSION
-export const CODALAB_VERSION = '0.4.7';
+export const CODALAB_VERSION = '0.5.0';
 
 export const NAVBAR_HEIGHT = 60;
diff --git a/setup.py b/setup.py
index f158134a4..f44d7db29 100644
--- a/setup.py
+++ b/setup.py
@@ -2,7 +2,7 @@
 import setuptools
 
 # should match codalab/common.py#CODALAB_VERSION
-CODALAB_VERSION = "0.4.7"
+CODALAB_VERSION = "0.5.0"
 
 if int(setuptools.__version__.split('.')[0]) < 25:
     print(