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The year of 2019 turns out to be the yearly season of tech IPOs. A number of high-profile US companies dealing in technologies have already got listed on stock exchanges and certain others are in the queue. An interesting aspect that cannot be neglected amongst US immigration strictness that four of the five top tech IPOs come from the companies kick-started by immigrants only.
Reportedly, as of starting of this month, Slack, Crowdstrike, Uber, Pinterest, and Zoom have been the biggest tech IPOs of this year. Therefore, here we have presented you with the list of the biggest tech-IPOs of 2019 in chronological order of their debut.
The transportation network company Lyft turned out to be the first tech company to float in 2019. The company joined the stock market at March-end welding up to the hugely oversubscribed listing. The shares of the San Francisco-based company raised by 21 percent on opening day.
Lyft took in approximately $8.1 billion in bookings, resulting in $2.1 billion in revenues along with $911.3 million losses last year.
Some analysts are considering it as a better deal than Uber. According to Stifel analyst Scott Devitt, Lyft also stands to advantages from its partnerships and strategic positioning in the market.
One of the most popular social media app Pinterest was priced at $19 per share when it entered into the market marking the company valuation of $12.7 billion. Later the share rate popped up to $24.13 by mid-day trading.
Although the online scrapbook company is constantly making losses and burning cash yet its pinboard content are luring format for advertisers who might get interested in buying targeted ads which will appear on the top of users' feed.
Pinterest with steady growth has reached to level of 285 million active users by 2018. Also, its revenue soared from $472.9 million to $755.9 million, the previous year.
The video conferencing company's point soared quite high during its trading debut in April. Zoom began its public trading at $65 and reached up to $66, significantly high from the IPO price of $36. This resulted in the company evaluation of up to $16 billion.
Zoom as the software maker is a unique example of a unicorn that mixes high growth with profitability. The company has already attracted nearly 50,000 companies. Also, the subscription model of Zoom has helped it to lure 5 times the revenue in 2018
PagerDuty was first significant software maker organization to go public in 2019 whose shares were trading up 59 percent at the close of trading at $38.25 on April 14. This resulted in the valuing of the company at $2.8 billion.
The Canadian company is an incident response platform which deploys machine learning to proactively warn against potential breakdowns. PagerDuty possesses over 10,000 customers, including the likes of IBM, Auto Trader, and UK challenger bank Monzo.
PagerDuty was founded by Alex Solomon, Andrew Miklas, and Baskar Puvanathasan in Toronto in 2009.
The ride-sharing company Uber, considered as the most interesting and much-anticipated IPO of the decade, floated on Friday, May 10 making a debut on New York Stock Exchange while raising $8.1 billion.
The initial IPO price of Uber was $45 per share targeting the valuation of $82.4 billion but somehow the stock opened at a disappointing rate of $41.
Although the offer price of Uber is a third lower than that predicted by analysts last year yet it is at7 third highest market capitalization at IPO following Alibaba and Facebook.
Slack is one of the fastest growing enterprise technology companies of all time. The company closed its first day of trading on the New York Stock exchange at $38.62, up 48 percent from its initial price. This resulted in the valuation of the company at $21 billion, which is nearly three times its last private valuation.
Pursuing an unconventional direct listing, the company avoided dealing with the cost of underwriting the IPO and the 'lockup period'. The lockup period prevents shareholders from selling immediately after a traditional IPO. Consequently, the company was able to raise less money but proves that it isn't less than private capital runway currently.
The Silicon Valley-based firm, being a cybersecurity vendor made a mega debut at Nasdaq, with its share price rising by 97 percent on the first day. Its value rocketed above $11 billion marks which around four times as much as it was valued at its last funding round in June previous year. Crowdstrike opened its first day of trading at $63.50, up from its IPO price of $34.
Crowdstrike was founded by Dmitri Alperovitch and its current CEO is George Kurtz. The company specializes in cloud-based breach protection. In last fiscal, it recorded a net loss of $140 million while its revenue more than doubled to $250 million, says company prospectus.
Some other tech companies that have filed their IPO paperwork to go public in 2019 are Postmates, WeWork, and Peloton. Additionally, some companies which are rumoured to be preparing a float are Airbnb, Bumble, Palantir, Cloudflare, Robinhood, and InsideSales.com.
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