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We've rounded up some of the most anticipated IPOs — as well as IPOs that already happened — to help get you up to speed on each company's financials, plans and risk factors.
Everything you need to know about upcoming IPOs
Roblox originally expected to go public via direct listing on the New York Stock Exchange in February. In late January, however, Reuters reported that Roblox had to delay its IPO due to SEC scrutiny over how it recognizes revenue. But on Feb. 22, the company announced that it's finally pulling the trigger on its listing on March 10.
Squarespace filed confidentially on Jan. 27, but didn't specify if it would go public through IPO or direct listing. The company was last valued at $1.7 billion in December 2017.
Coinbase was founded in 2012 and announced in December 2020 that it filed confidentially to go public. The cryptocurrency exchange filed its S-1 on Feb. 25 to go public via direct listing on Nasdaq. And depending on who you ask, the Coinbase IPO could be the latest symptom of a major financial bubble or a significant milestone in the restructuring of the global financial system.
The eagerly-anticipated listing was set to be the world's biggest IPO, raising almost $37 billion at a $313 billion valuation. The deal was then put on ice by regulators.
Will Instacart IPO in 2021? It's looking pretty likely. In January the company tapped Goldman Sachs' lead internet banker, Nick Giovanni, as CFO.
In December 2020, Reuters reported that ZipRecruiter, the buzzy employment platform, hired Goldman Sachs and JPMorgan Chase to help prepare for the company's IPO. Sources said that ZipRecruiter is looking for a valuation from $3 billion to $5 billion.
Also in December 2020, Coursera — the online learning platform — was said to be eyeing an IPO, according to Bloomberg sources. The company is hoping to be valued at around $5 billion when it goes public sometime this year.
Coupang hasn't yet disclosed its target listing date or share price. But it's expected to be the largest U.S. IPO by a foreign company since Alibaba went public in 2014.
JDL's anticipated $5 billion IPO in Hong Kong could value ecommerce giant JD.com's logistics arm at $40 billion, according to Bloomberg. JDL doesn't make a profit, but the trend lines are good.
Everything you need to know about past IPOs
They say money can't buy you love, but it can buy five SuperSwipes. And on Feb. 11, money could also get you an ownership stake in Bumble. Bumble's stock price jumped more than 85% within a few hours of its Nasdaq debut, raising $2.15 billion through the IPO process.
Kuaishou managed to raise $5.4 billion in the lead-up to the Hong Kong stock exchange debut — no internet company besides Uber has ever raised more through an IPO. Shares tripled during its Feb. 5 debut.
There aren't many tech companies harder hit by COVID-19 than Airbnb. When the pandemic took hold, the company's business was undermined and its plan to go public this year looked totally shot.
The company's share price more than doubled in its trading debut, from the $68 price set the night before to $146 at opening.
Wish priced its share at the high end of its range at $24, raising $1.1 billion for the company in its IPO and bumping its valuation up from $11 billion to $17 billion.
The company's stock price more than doubled within a few minutes of its Nasdaq debut mid-January, rising from $42 to $103. Protocol spoke with co-founder Tracy Sun about the importance of social commerce, why users are spending so much time on the app, and how the company is investing for long-term growth.
Affirm was one of the most highly anticipated debuts of the year and it didn't disappoint, soaring on the Nasdaq on its first day of trading. In an interview with the company's CEO, Max Levchin told Protocol that the the level of effort and intensity that our team brought to bear made him feel like he just wasn't working hard enough.
Shares of the company, which provides customer sentiment monitoring, ended the day of its debut up 51%, giving it above a $24 billion valuation, higher than Wall Street initially expected.
After raising $3.4 billion in the largest IPO ever pulled off by a software company, Snowflake has an impressive foundation to continue building out its data warehousing services for a data-mad world.
Sumo Logic wants to be the alarm system for the cloud, and raised $326 million to further its monitoring efforts in its public debut.
JFrog closed its first day of trading at $64.79, valuing the 12-year-old software development tool company at more than $6 billion.
Shares of C3.ai went gangbusters on the company's first day of trading on the New York Stock Exchange, raising $51 million.
After confidentially filing for an IPO back in February 2020, market turmoil caused by the pandemic put a halt to its listing. Also, DoorDash's risk factors section is long — really, really long. It priced its shares at $102 apiece the day before trading opened, but the stock began trading at $182, a giant pop for the company. It ended up closing at $189, up 85% for the day.
Back in August 2020, Protocol took a deep dive in game-engine maker Unity's S-1, parsing out everything that could possibly go wrong with the IPO. Among the threats: Unity is beholden to Apple and Google, saying the two companies could "limit or discontinue our or our customers' access" to their platforms and app stores. A stark reminder that unless you're one of the Big Five, you're at the mercy of Big Tech. Just a month later, the company IPO'd; it raised $1.3 billion in an unusual IPO, where Unity "asked investors to give us their interest at different prices in different quantities specifically," the company's CFO Kim Jabal told Protocol at the time.
Peter Thiel's secretive data analytics/government contracting company never made a profit, but just ahead of its planned direct listing, the company unveiled a ton of financial data, showing just what makes it tick. Unfortunately for Palantir, investors weren't too secretive about how they felt about the company: Though its stock opened at $10 per share, it spent the day slipping, closing down more than 5% at $9.50, marking the end of a pretty tumultuous listing process.
This story will be continually updated.
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