We’re halfway through the year, and the pipeline of companies going public, (whether that be through a traditional IPO, direct listing, or SPAC merger), has been hot.
Here, we will be checking in on the companies that have already gone public this year and those that have imminent IPO plans.
* = MV Portfolio Company
Companies that have gone public in 2021
Clover Health – SPAC
Category: Healthcare
Date: January 8, 2021
SPAC valuation: $7 billion
Current Price: $13.43
Clover Health went public through a SPAC merger with Social Capital Hedosophia V, Chamath Palihapitiya’s SPAC. Since the merger was finalized earlier this year, Clover Health’s stock price has been trending downward, with recent fluctuations as it has gotten the “meme stock” treatment.
Billtrust – SPAC
Category: Fintech
Date: January 13, 2021
SPAC valuation: $1.3 billion
Current Price: $13.92
Billtrust, a B2B payments company, went public through a SPAC merger with South Mountain Merger Corp. Since Billtrust went public, its stock price has remained mostly positive but was not unaffected by a general market dip in May.
Affirm – IPO
Category: Fintech
Date: January 13, 2021
IPO Price: $49
Current Price: $66.88
Affirm, a finance company that offers a “buy now, pay later” model for consumers, experienced a nearly 100% pop on the day of the company’s IPO. Since its public debut, the stock has trended somewhat downward.
Poshmark – IPO
Category: eCommerce
Date: January 14, 2021
IPO Price: $42
Current Price: $42.98
Poshmark provides a marketplace that brings together buyers and sellers of used fashion and apparel items. On the day of its IPO, the stock price immediately doubled, reaching $101.50. Since then, the stock has fallen down, closer to its original IPO price.
Playtika – IPO
Category: Gaming
Date: January 15, 2021
IPO Price: $27
Current Price: $23.60
Playtika is a mobile gaming developer. After a solid public debut, Playtika’s share price has seen some fluctuations, which a notable downturn this past March.
Hims & Hers Health – SPAC
Category: Health & Wellness
Date: January 21, 2021
SPAC valuation: $1.6 billion
Current Price: $10.82
Hims & Hers Health is a provider of personal care and health & and wellness products for men and women. The company’s SPAC merger with Oaktree Acquisitions Corp, which raised proceeds of around $280 million, was one of the first big venture capital-backed SPAC mergers of the new year. Since going public, the company’s stock has trended downward with some spikes.
Metromile – SPAC
Category: Insurance
Date: February 9, 2021
SPAC valuation: Unknown
Current Price: $9.43
Metromile, a digital insurance platform, went public through a SPAC merger with INSU Acquisition Corp. II. While it’s unclear what the company’s SPAC valuation was, its stock price has remained relatively stable since its public debut.
Bumble – IPO
Category: App
Date: February 10, 2021
IPO Price: $43
Current Price: $58.50
Austin-based and woman-led dating app, Bumble, raised $2.15 billion in its IPO, closing over 50% higher than the IPO price on its first trading day. While the stock fell in May, it’s beginning to trend back up.
ChargePoint Holdings – SPAC
Category: Automotive
Date: March 1, 2021
SPAC valuation: $3 billion
Current Price: $32.37
Electric vehicle charging network, ChargePoint Holdings, merged with Switchback Energy Acquisition Corp. in late February. Since going public, the company’s share price saw a dip in March but is now showing an upward trend again.
Oscar Health – IPO
Category: Insurance
Date: March 3, 2021
IPO Price: $39
Current Price: $23.26
Health Insurance market, Oscar Health, made its public debut in early March. After experiencing a notable dip in share price towards the tail-end of the month, Oscar’s share price has remained relatively stable.
Roblox – Direct Listing
Category: Software
Date: March 10, 2021
Reference Price: $45
Current Price: $88.00
Roblox, a gaming software company, had one of the most significant direct listings of the year, thus far. After a first-day 43% pop above its reference price, Roblox has been able to keep its momentum, with a strong positive trend that has continued through Q2.
Coupang – IPO
Category: eCommerce
Date: March 11, 2021
IPO Price: $35
Current Price: $38.50
Coupang, a Seoul-based eCommerce giant, had what is reported to have been the largest IPO of the year. After surging 40% past its IPO price on the first day of trading, Coupang’s share price has somewhat leveled off.
DigitalOcean* – IPO
Category: Software
Date: March 24, 2021
IPO Price: $47
Current Price: $50.33
DigitalOcean’s IPO opened below its $47 IPO price and has mostly remained below it, with a significant dip down to $35.50 in mid-May.
ThredUp – IPO
Category: eCommerce
Date: March 26, 2021
IPO Price: $14
Current Price: $25.84
ThredUp, a clothing resale marketplace, closed its first day of trading at ~43% above its IPO price. After a dip in April, the company’s stock has continued to trend upwards.
Compass – IPO
Category: Real estate
Date: April 1, 2021
IPO Price: $18
Current Price: $14.44
Compass, a digital real estate platform, was able to raise ~$450 million through its IPO. After spiking at $21.16 on its first day of trading, the company’s share price has fallen and is hovering around $13 per share.
Coinbase – Direct Listing
Category: Fintech
Date: April 14, 2021
Reference Price: $250
Current Price: $226.97
Coinbase, a cryptocurrency exchange platform, enjoyed one of the most hyped and possibly largest public debuts of 2021. On the company’s first day of trading, its stock hit $429.54 but has since fallen to levels closer to its reference price of $250.
AppLovin – IPO
Category: Software
Date: April 15, 2021
IPO Price: $80
Current Price: $84.76
After a rocky start opening below its IPO price, AppLovin’s share price has seen steady growth since mid-May, finally surpassing the app company’s $80 IPO price.
UiPath – IPO
Category: Software
Date: April 21, 2021
IPO Price: $56
Current Price: $69.05
Robotic process automation company UiPath made a strong public market debut, surpassing its IPO price of $56 and raising around $1.34 billion in the process. Since its debut in late April, the company’s share price has remained above its IPO price.
DoubleVerify – IPO
Category: Software
Date: April 21, 2021
IPO Price: $27
Current Price: $42.02
Digital media software Company DoubleVerify experienced a 33% pop on its first day of trading, and after a dip in late May, is seeing upward growth and is currently trading at nearly 50% over its IPO price.
Zymergen* – IPO
Category: Biotech
Date: April 21, 2021
IPO Price: $27
Current Price: $42.07
Biotech Zymergen saw a weeklong burst after its public debut, reaching $50.01, and hit a low of $26.27 in mid-May. Since then, the stock has risen and leveled off around $44 per share.
The Honest Company* – IPO
Category: Consumer Goods
Date: May 5, 2021
IPO Price: $16
Current Price: $15.50
Jessica Alba’s personal and baby care consumer goods brand had a positive start on its first day of trading, closing at 44% over its $16 price. The stock has continued to hover around its IPO price and has not surpassed it’s opening day high price of $22.95.
Blade Air Mobility – SPAC
Category: Mobility
Date: May 7, 2021
SPAC valuation: $825 million
Current Price: $11.01
Blade Air Mobility, a provider of short-distance flight management solutions, merged with SPAC Experience Investment Corp. at an $825 million valuation with $400 million in gross proceeds. Since entering the public market, Blade’s stock price has dipped below and also surpassed its opening price of $8.70, reaching $11.27 earlier this week.
Procore – IPO
Category: Software
Date: May 20, 2021
IPO Price: $67
Current Price: $97.55
Construction management software company Procore has had a relatively positive public market debut, with a pop of ~31% above its IPO price on its first day of trading. Since going public, its share price has remained above its initial $67 IPO price.
Oatly – IPO
Category: Consumer Goods
Date: May 20, 2021
IPO Price: $17
Current Price: $24.85
Oat milk giant, Oatly, has had a mostly positive market debut, with an 18% pop on its first day of trading and no significant dips since then. While the company has only been public for around a month, its share price is trending positively.
Squarespace – Direct Listing
Category: Publishing
Date: May 19, 2021
Reference Price: $50
Current Price: $62.98
While Squarespace’s public listing got off to a rocky start, dipping below its reference price of $50, the publishing site has had a positive rebound, reaching a high of $64.42 earlier this week.
ZipRecruiter – IPO
Category: Recruiting
Date: May 26, 2021
IPO Price: $18
Current Price: $23.00
ZipRecruiter is off to a good start after its late-May IPO, with its stock peaking $24.81 within the first week. Since then, its share price has seen some dips, but has remained above its IPO price and seems to be trending upward.
FIGS
Category: Consumer Goods
Date: May 27, 2021
IPO Price: $22
Current Price: $46.37
FIGS, which creates custom medical scrubs, saw a 39% pop over its $22 IPO price, which it has continued to trade above since its stock market debut.
SoFi – SPAC*
Category: Fintech
Date: June 1, 2021
SPAC valuation: $8.66 billion
Current Price: $19.77
Fintech company SoFi is another company that went public via a merger with one of Chamath Palihapitiya’s SPACs. After an initial pop in its first few days of trading, SoFi’s stock took a dip, reaching a low of $20.55 per share.
Imminent public listings
Better.com
Category: Real estate
Better.com, a digital lender, has plans to public via a SPAC merger with Aurora Acquisitions Corp. at a valuation or $7.7 billion. As part of the deal, the blank-check company has committed to a $1.5 billion investment into the newly combined company.
Bird*
Category: Mobility
Bird will reportedly go public via a SPAC merger with Switchback II at a possible $2.3 billion valuation. At this time, there are no details about when the deal will be finalized.
Couchbase*
Category: Software
Couchbase, a NoSQL cloud database, registered for a U.S. initial public offering earlier this week. While the company didn’t disclose any details about its listing plans, it could be valued at as much as $3 billion in an IPO according to sources familiar with the company.
Dave
Category: Fintech
Banking startup Dave will go public through a SPAC merger with VPC Impact Acquisition Holdings III at an anticipated equity value of around $4 billion.
Ginkgo Bioworks*
Category: Biotech
Ginkgo Bioworks is currently in the midst of merging with Soaring Eagle Acquisition Corp., a SPAC led by Harry Sloan, former CEO of MGM. The deal includes a $15 billion valuation for Ginkgo Bioworks as well as $2.5 billion in deal proceeds.
MoneyLion
Category: Fintech
MoneyLion, a digital baking provider, has finalized a deal to go public through a SPAC merger with Fusion Acquisition Corp. The deal would take MoneyLion public at an estimated $2.9 billion equity value.
Robinhood*
Category: Fintech
Investment and trading platform Robinhood is reportedly looking to go public via an initial public offering in July, after IPO plans for earlier this year were put on hold. Based on secondary market trading, it’s speculated that the company could be worth as much as $40 billion.
Shapeways*
Category: 3D Printing
Shapeways plans to go public via a $605 million merger with SPAC Galileo Acquisition. The transaction is expected to provide up to $195 million of net proceeds to the company.
Quanergy*
Category: Self-driving car technology
LiDAR technology company Quanergy is reportedly planning to go public through a SPAC merger with CITIC Capital Acquisition Corp., which could value the company at $1.1 billion.
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