Year 2020 was a blockbuster year for the IPO market despite the coronavirus pandemic ruining the first half of the year. As per the data from Factset, there were 494 IPOs last year, raising a combined $174 billion. Such a performance has set high expectations for the year 2021 that has already seen some big companies going public in the first quarter. In the remaining three quarters, many more big companies are expected to go public. Let’s take a look at the ten major IPOs to watch for in 2021.
10 Major IPOs To Watch For In 2021
We have used several parameters, such as current and potential valuation, popularity, expected size of IPO and more, to come up with our list of major IPOs to watch for in 2021. Following are the ten major IPOs to watch for in 2021:
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Founded in 2009, it is one of the pioneers of the autonomous electric vehicle (EV) market. Amazon and Ford have already shown confidence in this EV company. In 2021, Rivian plans to start delivering two consumer vehicles – R1S (sport utility vehicle) and R1T (pickup truck). The company recently raised $2.65 billion, bringing the total raised amount to $8 billion. Rivian is reportedly eying a valuation of around $50 billion.
Founded in 2012, the company assists game developers in developing, managing and monetizing their apps. AppLovin also owns a gaming studio, called Lion Studios. In October, Reuters reported that the company plans to go public in the first half of this year. The company has been profitable since inception, and reportedly generated revenue of $1.5 billion in 2020. AppLovin was valued at around $2 billion in 2018.
This 40-year old company manages savings accounts and offers other similar services. It also offers services for 529 college funds and Health Savings Accounts (HSAs). Ascensus is expected to go public by mid-2021 and is targeting a valuation of around $3 billion. The company manages the savings of more than 12 million Americans and has over $327 billion of assets under management.
It is a technology and analytics company that works as an internal search engine allowing employees to find needed information from internal data. ThoughtSpot’s offerings gained more prominence with remote working during the pandemic. The company’s customer list includes names like Walmart, Disney's Hulu and others. ThoughtSpot achieved a valuation of $1.95 billion after it raised $248 million in August 2019.
It is a robotics company with a focus on automating mundane tasks. UiPath is expected to go public sometime in the first half of 2021. The company has more than 6,000 customers, including Amazon and Verizon, and has annual revenue of around $360 million, as per a CNBC report. UiPath has a valuation of $35 billion based on its latest funding round of $750 million.
Founded in 2012, it is among the biggest cryptocurrency exchanges on the market. In December, the company confirmed filing for an IPO, but hasn’t shared any more information since then. Coinbase is expected to go public sometime this month and could be the biggest IPO in the crypto space. Coinbase was valued at $8 billion in 2018, and the company is reportedly eying a valuation of around $75 billion.
This digital payments company develops software for e-commerce platforms. Stripe already boasts some of the big names as its clients, including Amazon, Salesforce and Instacart. If Stripe does go public this year, it will likely be the biggest IPO of this year and among the biggest ever. In April last year, this digital payments company raised $600 million, giving it a valuation of around $36 billion.
Founded in 2008, it is a social network of your neighborhood. The company has raised about $470 million since inception and is expected to go public sometime this year with a valuation of $4 billion to $5 billion. Sarah Friar, who was the CFO of Square when it went public, is the CEO of Nextdoor. This company enjoys the backing of popular venture capitalists, including Tiger Global Management, Greylock Partners and Kleiner Perkins.
Founded in 2013, it is an online broker that allows people to trade commission-free. The platform also allows users to buy and sell cryptocurrencies. Robinhood had around 13 million users in 2020. There were reports in December that the company is in talks with Goldman Sachs for an IPO with a valuation of about $20 million. Robinhood is expected to go public in the second quarter of this year.
This grocery-delivery app was planning an IPO last year, but it got postponed. Now the company is expected to go public sometime in the first half of this year. The business model of the company, which allows users to shop without going out, was a big hit during the pandemic. There were reports last year that the company has hired Goldman Sachs to prepare for the listing with a valuation of around $30 million.