Most companies that went public in 2020 faced tremendous uncertainty. Those that defied the pandemic were rewarded with a perfect storm of demand. Let's take a look at 7 relevant examples.
Li Auto and Xpeng
Both Chinese electric vehicles producers went public last summer: Li Auto on July 30, and Xpeng on August 27. Both reported raising more than $1 billion. Furthermore, their stocks tripled since the IPOs, which shows the incredible potential for EV businesses in today’s fast-paced world.
Snowflake, a tech company, specialized in cloud-computing services, went public on September 16, raising approximately $3.4 billion in the process and reaching a market cap well above $33 billion. Even Warren Buffett through Berkshire Hathaway bought $250 million worth of Snowflake stock at the IPO pricing, later adding $485 million worth of shares more from #Snowflake former CEO Robert Muglia.
As of February 2, 2021, its stock more than doubled, reaching $300 apiece, up from $120 in the IPO day.
One of the most hotly anticipated tech-IPOs of the year finally arrived on September 30, when #Palantir went public on the New York Stock Exchange in a direct listing, raising more than $2.57 billion. Since that day, the company’s stock tripled, hitting $31 on February 2, 2021. Palantir’s market cap reached $54 billion, well higher than what it targeted with the IPO in the first place.
With its public listing success, Palantir announces itself as a worthy competitor for Microsoft and Amazon, on the big tech arena.
DoorDash and Airbnb
Two of the biggest IPOs of 2020 happened in consecutive days, on December 9 and December 10, with both #DoorDash and #Airbnb raising similar amounts of money: $3.37 billion and $3.51 billion, respectively.
DoorDash owns 50% of the U.S. prepared-food delivery market with more than 18 million customers, 1 million food delivery agents, and 390,000 merchants on its platform. On its stock market debut, DoorDash jumped 85% over its initial IPO price after it opened at $182/share, exceeding the company's targets.
Airbnb, the giant home-sharing rental company with more than 2 million customers, had comparable results. The company's shares more than doubled on its stock market debut, opening at $146/share than the expected $68/share.
#Wish, the mobile-focused e-commerce platform, priced the shares for its IPO at $24, becoming the third San-Francisco based company to raise more than $1 billion in December, after DoorDash and Airbnb Inc. Since December 16, 2020, the Wish stock jumped more than 28%, hitting $29.15/share on February 2, 2021.
Prepare yourself for the hottest IPOs coming your way! Stay tuned to CAPEX.com and learn who else is going public!
Sources: morningstar.com, news.crunchbase.com, cnbc.com.
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