Companies Gone Public in 2021: Visualizing IPO Valuations

Companies Gone Public in 2021

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Companies Gone Public in 2021: Visualizing Valuations

Despite its many tumultuous turns, last year was a productive year for global markets, and companies going public in 2021 benefited.

From much-hyped tech initial public offerings (IPOs) to food and healthcare services, many companies with already large followings have gone public this year. Some were supposed to go public in 2020 but got delayed due to the pandemic, and others saw the opportunity to take advantage of a strong current market.

This graphic measures 68 companies that have gone public in 2021 — including IPOs, SPACs, and Direct Listings—as well as their subsequent valuations after listing.

Who’s Gone Public in 2021?

Historically, companies that wanted to go public employed one main method above others: the initial public offering (IPO).

But companies going public today readily choose from one of three different options, depending on market situations, associated costs, and shareholder preference:

  • Initial Public Offering (IPO): A private company creates new shares which are underwritten by a financial organization and sold to the public.
  • Special Purpose Acquisition Company (SPAC): A separate company with no operations is created strictly to raise capital to acquire the company going public. SPACs are the fastest method of going public, and have become popular in recent years.
  • Direct Listing: A private company enters a market with only existing, outstanding shares being traded and no new shares created. The cost is lower than that of an IPO, since no fees need to be paid for underwriting.

The majority of companies going public in 2021 chose the IPO route, but some of the biggest valuations resulted from direct listings.

Listing Date Company Valuation ($B) Listing Type
08-Jan-21 Clover Health $7.0 SPAC
13-Jan-21 Affirm $11.9 IPO
13-Jan-21 Billtrust $1.3 SPAC
14-Jan-21 Poshmark $3.0 IPO
15-Jan-21 Playtika $11.0 IPO
21-Jan-21 Hims and Hers Health $1.6 SPAC
28-Jan-21 Qualtrics $15.0 IPO
09-Feb-21 Metromile SPAC
11-Feb-21 Bumble $8.2 IPO
26-Feb-21 ChargePoint Holdings SPAC
03-Mar-21 Oscar Health $7.9 IPO
10-Mar-21 Roblox $30.0 Direct Listing
11-Mar-21 Coupang $60.0 IPO
23-Mar-21 DigitalOcean $5.0 IPO
25-Mar-21 VIZIO $3.9 IPO
26-Mar-21 ThredUp $1.3 IPO
31-Mar-21 Coursera $4.3 IPO
01-Apr-21 Compass $8.0 IPO
14-Apr-21 Coinbase $86.0 Direct Listing
15-Apr-21 AppLovin $28.6 IPO
21-Apr-21 UiPath $35.0 IPO
21-Apr-21 DoubleVerify $4.2 IPO
05-May-21 The Honest Company $1.4 IPO
07-May-21 Lightning eMotors $0.82 SPAC
07-May-21 Blade Air Mobility $0.83 SPAC
19-May-21 Squarespace $7.4 Direct Listing
19-May-21 Procore $9.6 IPO
19-May-21 Oatly $10.0 IPO
26-May-21 ZipRecruiter $2.4 Direct Listing
26-May-21 FIGS $4.4 IPO
01-Jun-21 SoFi $8.7 SPAC
02-Jun-21 BarkBox $1.6 SPAC
08-Jun-21 Marqueta $15.0 IPO
10-Jun-21 Monday.com $7.5 IPO
16-Jun-21 WalkMe $2.5 IPO
22-Jun-21 Sprinklr $3.7 IPO
24-Jun-21 Confluent $9.1 IPO
29-Jun-21 Clear $4.5 IPO
30-Jun-21 SentinelOne $10.0 IPO
30-Jun-21 LegalZoom $7.0 IPO
30-Jun-21 Didi Chuxing $73.0 IPO
16-Jul-21 Blend $4 IPO
21-Jul-21 Kaltura $1.24 IPO
21-Jul-21 DISCO $2.5 IPO
21-Jul-21 Couchbase $1.4 IPO
23-Jul-21 Vtex $3.5 IPO
23-Jul-21 Outbrain $1.1 IPO
28-Jul-21 Duolingo $3.7 IPO
28-Jul-21 Riskified $3.3 IPO
29-Jul-21 Robinhood $32.0 IPO
22-Sep-21 Toast $22.0 IPO
22-Sep-21 Freshworks $10.1 IPO
23-Sep-21 Remitly $6.9 IPO
28-Sep-21 Amplitude $6.4 Direct Listing
29-Sep-21 Warby Parker $6.0 Direct Listing
14-Oct-21 GitLab $11.0 IPO
27-Oct-21 Rent the Runway $1.7 IPO
29-Oct-21 Udemy $4.0 IPO
03-Nov-21 Allbirds $2.2 IPO
04-Nov-21 NerdWallet $1.2 IPO
10-Nov-21 Rivian $66.5 IPO
10-Nov-21 Expensify $2.2 IPO
11-Nov-21 Winc IPO
11-Nov-21 Weave IPO
17-Nov-21 UserTesting IPO
17-Nov-21 Braze $6.0 IPO
18-Nov-21 Sweetgreen $3.0 IPO
09-Dec-21 Nubank $41.0 IPO

Though there are many well-known names in the list, one of the biggest through lines continues to be the importance of tech.

A majority of 2021’s newly public companies have been in tech, including multiple mobile apps, websites, and online services. The two biggest IPOs so far were South Korea’s Coupang, an online marketplace valued at $60 billion after going public, and China’s ride-hailing app Didi Chuxing, the year’s largest post-IPO valuation at $73 billion.

And there were many apps and services going public through other means as well. Gaming company Roblox went public through a direct listing, earning a valuation of $30 billion, and cryptocurrency platform Coinbase has earned the year’s largest valuation so far, with an $86 billion valuation following its direct listing.

Big Companies Going Public in 2022

As with every year, some of the biggest companies going public were lined up for the later half.

Tech will continue to be the talk of the markets. Payment processing firm Stripe was setting up to be the year’s biggest IPO with an estimated valuation of $95 billion, but got delayed. Likewise, online grocery delivery platform InstaCart, which saw a big upswing in traction due to the pandemic, has been looking to go public at a valuation of at least $39 billion.

Of course, it’s common that potential public listings and offerings fall through. Whether they get delayed due to weak market conditions or cancelled at the last minute, anything can happen when it comes to public markets.

This post has been updated as of January 1, 2022.

The post Companies Gone Public in 2021: Visualizing IPO Valuations appeared first on Visual Capitalist.

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