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
Squarespace filed confidentially on Jan. 27, but didn't specify if it would go public through IPO or direct listing. In March 2021, it raised $300 million in a round that values the company at a whopping $10 billion.
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.
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.
Megvii is one of China's largest facial-recognition developers. It recently filed for an IPO on the Shanghai Stock Exchange's STAR Market. The Alibaba-back AI unicorn plans to raise at least 6 billion RMB ($922 million).
The Tencent-backed Chinese startup Waterdrop is betting it can win its massive but underdeveloped private medical insurance market, by combining charity and business. It filed its F-1 form on April 16 for a listing on the New York Stock Exchange.
On April 28, Zomato — one of India's top food delivery services — submitted paperwork to the Securities and Exchange Board of India to kick off a public offering. The company hopes to raise $1 billion through the IPO process.
Tencent-backed WeDoctor, one of the first and biggest unicorns in digital healthcare, filed for an IPO in April on the Hong Kong Stock Exchange. WeDoctor was valued at $6.8 billion during its last funding round.
The Ant Financial-backed Hello is set to be the first Chinese bike-sharing company to go public. On April 23, Hello Inc. filed for an IPO with the SEC, seeking to raise $100 million on Nasdaq.
The fintech company behind your favorite fintech company released its S-1 on May 14. In its most recent funding round announced last May, it raised $150 million at a $4.3 billion valuation.
Work management platform Monday.com filed IPO paperwork in early May, and achieved a valuation of $2.7 billion in a funding round last May. The company's revenue is growing, but its F-1 disclosed exorbitant sales and marketing costs that suggest a hard path to profitability.
Everything you need to know about past 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. Shares began trading on March 10 at $64.50, a 43% increase from the price of shares sold on private markets in January.
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.
Interview with Poshmark co-founder Tracy Sun
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.
Qualtrics IPO debut
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.
Snowflake IPO debut
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 IPO debut
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 IPO 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.
C3.ai IPO debut
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.
Coupang made its trading debut on March 11. The company jumped 40% in its market debut, ending the day at $49.25 a share, giving the company a valuation of over $100 billion.
Coursera filed its S-1 on March 5, and made its NYSE debut on March 31. It closed its first day of trading up 36% at $45, giving the online learning platform a market cap around $5.1 billion.
Food delivery service revenue has spiked during the pandemic. The company made its trading debut on the London Stock Exchange on March 31; shares closed 26% below the IPO price, valuing Deliveroo at $7.7 billion.
Compass made its market debut on April 1 — shares rose nearly 12% over the course of the day, closing at $20.15.
Coinbase was founded in 2012 and announced in December 2020 that it filed confidentially to go public. The company made its debut on April 14, and shares traded at over $424 within a few minutes of opening, representing a nearly 70% increase from the $250 reference price set on April 13.
UiPath is a startup that provides robotic process automation technology to help run workflows across the enterprise on autopilot. Overall, the company brought in $1.34 billion through its IPO when it debuted April 21.
This story will be continuously updated.
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