Venture

Here’s Who Has Gone Public In 2020 (So Far) 

After a COVID-19-induced lull in the IPO market, it has certainly picked up. Tech companies have rushed to file S-1s in recent weeks, with big-name companies like Palantir, Asana and Snowflake all making their financial information public. 

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Crunchbase News waited longer than usual to initially publish this list of venture-backed tech and tech-ish companies because at the beginning of the year (and then into COVID), it was pretty bare bones. Now, there are several other companies to add, and more coming up soon. 

Here are the venture-backed companies that have gone public through an IPO. In previous versions of this list, we stuck to just tech or tech-ish companies. For consistency, that’s what we’re doing again. We’ll keep updating this list as time goes on.

Last updated Oct. 23, 2020

One Medical

  • IPO date: Jan. 30, 2020
  • IPO price: $14
  • Last private valuation: Between $1.5 billion and $2 billion, according to CNBC
  • IPO valuation: $1.7 billion
  • Initial post-IPO arc: Positive

One Medical’s stock has stayed well above its IPO price of $14 since it went public at the end of January. Its stock closed on its first day of trading 58 percent higher than its IPO price and, while it’s seen dips here and there, its post-IPO arc has been largely positive. Its stock opened at $32.20 on Wednesday.

Casper

  • IPO date: Feb. 5, 2020
  • IPO price: $12
  • Last private valuation: $1.1 billion
  • IPO valuation: $476 million, excluding underwriters’ options.
  • Initial post-IPO arc: Negative

Casper’s IPO was troubled from the start, with the mattress company dropping its IPO range before the offering, slashing the company’s valuation. Casper’s stock opened about 21 percent higher than its IPO price on its first day of trading, but things have pretty much been trending downward ever since. Casper’s stock was trading at $8.75 on Wednesday.

Kingsoft Cloud

  • IPO date: May 8, 2020
  • IPO price: $17
  • Last private valuation: Unknown
  • IPO valuation: $3.7 billion
  • Initial post-IPO arc: Negative

In the midst of the tech IPO lull, China’s Kingsoft Cloud went public, raising $510 million by pricing its shares at $17 each. It was also the first Chinese company to go public in the U.S. after China’s Luckin Coffee got caught up in a scandal surrounding its financials. Kingsoft Cloud closed its first day of trading 40 percent above its IPO price, but the price has trickled down since then. The company’s stock opened at $20.70 on Wednesday.

ZoomInfo

  • IPO date: June 3, 2020
  • IPO price: $21
  • Last private valuation: Unknown
  • IPO valuation: $8.2 billion
  • Initial post-IPO arc: Positive

The COVID-19 pandemic effectively paused tech IPOs for U.S.-based companies for around three months, although many pharmaceutical and medical-related companies still moved forward with their public debuts. So when ZoomInfo moved forward with its IPO, it was a big deal. And notably, the company was very well received by public investors, despite the U.S. entering a recession. Its stock price surged on its first day of trading, closing nearly 62 percent above its IPO price. The stock opened at $59.22 on Wednesday.

Vroom

  • IPO date: June 8, 2020
  • IPO price: $22
  • Last private valuation: $1.45 billion
  • IPO valuation: $2.5 billion
  • Initial post-IPO arc: Positive

Vroom closed out its first day of trading with its stock more than double its IPO price. It bumped up its price range (from between $15 and $17 to between $18 and $20) and ended up pricing its shares at $22. And it *still* closed so much higher than that–at $47.90 per share. Not only is there investor interest in the company, but Vroom left a lot of money on the table. It’s too soon to say if the momentum will hold, but it’s initial post-IPO arc is positive. Its stock opened at $51.45 on Wednesday.

Agora

  • IPO date: June 25, 2020
  • IPO price: $20
  • Last private valuation: Unknown
  • IPO valuation: About $2 billion, according to TechCrunch
  • Initial post-IPO arc: Positive

In fact, for most venture-backed tech companies that went public this summer, the post-IPO arc has been positive. Agora’s stock price surged on its first day of trading, closing more than 150 percent above its IPO price. There have been ups and downs since then, but its stock has remained well-above its IPO price ever since the company went public. It closed at $50.69 on Thursday, Sept. 10.

Lemonade

  • IPO date: July 2, 2020
  • IPO price: $29
  • Last private valuation: $2 billion
  • IPO valuation: $1.6 billion, excluding underwriters’ options
  • Initial post-IPO arc:  Positive

Although Lemonade, a well-known insurtech unicorn, had an IPO valuation below its last private valuation, it saw its stock jump with its Wall Street debut. The company’s stock closed out its first day of trading 139 percent above its IPO price. While the price has tapered down a bit, it closed at $52.40 on Thursday, Sept. 10, more than 80 percent above its IPO price.

nCino

  • IPO date: July 13, 2020
  • IPO price: $31
  • Last private valuation: Unknown
  • IPO valuation: $2.8 billion
  • Initial post-IPO arc: Positive, kind of.

nCino’s first day closing price came to $91.59, 195 percent above its IPO price. While it dropped off soon after, its initial post-IPO performance would still be considered positive–its stock closed at $84.20 on Thursday, Sept. 10, nearly 172 percent above its IPO price.

Jamf

  • IPO date: July 21, 2020
  • IPO price: $26
  • Last private valuation: Unknown
  • IPO valuation: $3 billion
  • Initial post-IPO arc: Negative

Jamf’s first day close was still higher than its IPO price, but far less extreme than any of the other VC-backed tech companies that went public over the summer. Its stock closed its first day of trading around 50 percent higher than its IPO price. Although its stock price has gone down a bit since then, it is still above its IPO price. It closed at $33.78 on Thursday, Sept. 10.

BigCommerce

  • IPO date: Aug. 4, 2020
  • IPO price: $24
  • Last private valuation: Unknown
  • IPO valuation: $1.6 billion
  • Initial post-IPO arc: Positive

BigCommerce saw the largest IPO pop for a VC-backed tech company that went public this year. The company closed its first day of trading with its stock price about 201 percent above its IPO price. Its stock has only gone up since then, closing Thursday, Sept. 10 at $83.16.

Duck Creek Technologies

  • IPO date: Aug. 13, 2020
  • IPO price: $27
  • Last private valuation: Unknown
  • IPO valuation: $3.5 billion
  • Initial post-IPO arc: Positive

Duck Creek Technologies’ stock closed about 48 percent above its IPO price. Still a big pop, but not nearly as large as some of the other tech companies that have gone public lately. Since its public debut, its stock price has fallen a bit but stayed above its IPO price. It closed on Thursday, Sept. 10 at $38.74.

Snowflake

  • IPO date: Sept. 16, 2020
  • IPO price: $120
  • Last private valuation: $12.4 billion
  • IPO valuation: $33.2 billion
  • Initial post-IPO arc: Negative*

Snowflake ended up being the largest software IPO ever, raising nearly $3.4 billion and being valued at $33.2 billion before trading started on the public markets. The company saw its stock pop 104 percent, opening at $245 per share and closing its first day of trading at $253.93, nearly 112 percent above its IPO price. Snowflake has only been publicly traded for a couple days, so take its initial post-IPO arc with a grain of salt. The stock closed at $240 on Friday, Sept. 18, so a bit under its first-day close but still way above its IPO price.

JFrog

  • IPO date: Sept. 16, 2020
  • IPO price: $44
  • Last private valuation: $1 billion
  • IPO valuation: $4 billion
  • Initial post-IPO arc: Flat

JFrog’s stock also soared on its first day of trading, opening nearly 62 percent above its IPO price. Its stock has also cooled down a bit in the couple days since it started publicly trading, closing at $64.78 on Friday, Sept. 18, giving it a valuation of $5.7 billion. JFrog shares are still trading well above their IPO price of $44. 

Sumo Logic

  • IPO date: Sept. 17, 2020
  • IPO price: $22
  • Last private valuation: $1 billion
  • IPO valuation: $2.2 billion
  • Initial post-IPO arc: Negative*

Sumo Logic saw its stock pop around 22 percent when it opened for trading. That’s not nearly as high as other recent tech IPOs, but that might be a good thing for the company because it means that its IPO was appropriately priced, and tons of money wasn’t left on the table. The company closed out its first day of trading at $26.88 and closed its second day of trading (Sept. 18) at $25.05. So while its price is down a bit, it’s also only been trading for two days.

Amwell Health

  • IPO date: Sept. 17, 2020
  • IPO price: $18
  • Last private valuation: Unknown
  • IPO valuation: $3.96 billion
  • Initial post-IPO arc: Flat

Amwell Health closed out its first day of trading at $23.07 after setting an IPO price of $18. The stock saw a nice pop on its first day of trading, but not as extreme as other tech and tech-ish companies that have recently gone public. The company’s stock closed at $23.03 on Friday, Sept. 18.

Unity

  • IPO date: Sept. 18, 2020
  • IPO price: $52
  • Last private valuation: More than $6 billion
  • IPO valuation: $13.7 billion
  • Initial post-IPO arc: Positive.

Unity’s stock opened 44 percent above its IPO price on its first day of trading, opening at $75. The company raised $1.3 billion with its IPO and saw a good-sized pop for its first day. As of this writing, the company’s initial post-IPO arc is positive since the first day saw a strong surge in demand from public market investors. The company closed out its first day at $68.35.

Palantir

  • IPO date: Sept. 30, 2020
  • Reference price: $7.25
  • Last private valuation: $10.5 billion, according to CNBC
  • IPO valuation: $22 billion
  • Initial post-IPO arc: Negative

First of all, we should note that Palantir did not go public through a traditional IPO. It went public via a direct listing. While direct listings have been talked about more, there have only been a couple so far this year for venture-backed tech and tech-ish companies, which is why Palantir is on this list. Palantir’s public debut was definitely long-awaited (the company was founded in 2003), and its stock opened on its first day of trading at $10, nearly 38 percent above its reference price. However, it closed out its first and second days of trading below that $10 mark, which is why its “initial post-IPO” arc is negative. Of course, Palantir is still very new to the market, so that could quickly change.

Asana

  • IPO date: Sept. 30, 2020
  • Reference price: $21
  • Last private valuation: At least $2 billion, per Crunchbase
  • IPO valuation: $5.5 billion
  • Initial post-IPO arc: Negative

Asana also went public through a direct listing, rather than a traditional IPO. Its stock opened at $27, nearly 29 percent higher than its reference price, and closed out its first day of trading at $28.80. Its second day of trading closed a bit lower at $26.13. Again, Asana is new to the market, so take its negative initial post-IPO arc with a grain of salt.

McAfee

  • IPO date: Oct. 22, 2020
  • IPO price: $20
  • Last private valuation: Unknown
  • IPO valuation: $8.6 billion
  • Initial post-IPO arc: Negative.

In its second time going public, McAfee priced its shares at $20 apiece, toward the low end of its range. Its stock ended up opening lower than its IPO price on its first day of trading. And as of close of market Friday, its stock still hadn’t made it up to the $20 mark closing at $18.79.

Illustration: Li-Anne Dias

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