Recall, however, that the IPO markets tanked in 2001, with just 83 companies completing their public offerings while raising $40.8 billion in fresh capital. According to IPO tracker Renaissance Capital, poor returns following the majority of 2021 IPOs yielded an average return of −10%, the worst in more than 10 years, even though first-day pops averaged nearly 31% for the 399 IPOs concluded this year. The following chart, based on Renaissance Capital data, lists the 10 largest IPOs of 2021. The largest deal was electric maker Rivian’s $11.9 billion capital raise and the tenth largest was Playtika’s $1.9 billion deal. In addition to these traditional IPOs, cryptocurrency exchange Coinbase’s direct listing opened for trading at a valuation of just over $100 billion. Renaissance Capital reported that 604 SPAC mergers occurred this year, the highest number ever and more than double 2020’s total of 248 deals. Total capital raised came to $143.5 billion, more than the capital raised in all SPAC mergers combined since 2007. The year’s largest SPAC deal was Southeast Asia superapp Grab’s December deal that valued the company at $39.6 billion. EV maker Lucid’s SPAC deal valued the company at nearly $24 billion.įor 2022, Renaissance Capital does not expect to see the same record-breaking level of IPOs we saw in 2021.
Health care IPOs are expected to remain active, as are those of tech companies. The firm cited companies like yogurt maker Chobani, Brazilian steakhouse chain Fogo and HR platform provider Justworks as top candidates.Ĭrunchbase, a pre-IPO tracker, has just released its list of 30 companies it says are its top picks for a 2022 IPO. Here’s a brief look at some of Crunchbase’s top picks in several different categories. In enterprise tech and cybersecurity, Boston-based Cybereason extended detection and response technology has become popular thanks to the work-from-home model that was forced on businesses due to the COVID-19 pandemic. The company recently raised $275 million in venture funding at a valuation of $3.1 billion.
Other potential IPOs in this space include Databricks, Everlaw and Rippling. Potential IPOs in fintech and banking include payment processor Stripe, which was last valued at $95 billion after a capital raise in March. “The onus is on us to prove our reputation and our brand and really differentiate ourselves,” she says.Other solid possibilities include Sweden-based buy-now-pay-later giant Klarna and San Francisco-based Plaid that had its $5.3 billion acquisition by Visa ended when the U.S. She argues that Divvy is unique because it lets customers choose their own homes, rather than placing them in undesirable housing, and that it has rectified instances of dissatisfaction. “I think the industry has a truly terrible reputation, and rightfully so,” says Hefets, who holds degrees from Cornell and Stanford, and a résumé spanning from Square to Goldman Sachs. Already the company has received some skeptical press coverage.
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“Over the next ten years we believe they could help over 100,000 families become financially responsible homeowners,” says Scott Shleifer, a partner at Tiger Global, which led the Series C.Īs the company grows, Hefets will have to prove that Divvy is different than many of its rent-to-own peers, which are often seen as predatory, with exploitative rates and low-quality housing. Divvy competes against many regional firms, as well as Home Partners, Dream America and others. She declined to confirm the company’s current valuation, though it was valued at $163 million as of June 2019, according to PitchBook. Annual revenue is well above $20 million, Hefets says. Divvy is operational in 16 markets, with plans to expand to 20 by year’s end, thanks in part to the new funding.
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