Public Markets

Here’s Who’s Gone Public in 2021 (So Far)

We’re almost halfway through the year, and while tech stocks took a beating last month, many quickly rebounded. 

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There’s been a strong pipeline of companies that have gone public either through an IPO, direct listing, or SPAC in the first half of 2021 (hence the length of this list). In past versions of this public offering tracker, we’ve only tracked IPOs, with a direct listing here and there. This time, we’ve broken down the list by IPOs, direct listings and SPACs, though we’ve only included venture-backed SPACs that have completed mergers with target companies and begun trading as a combined company. 

This list is in chronological order. Most recently updated: June 4, 2021. 

IPOs

Affirm

  • IPO date: Jan. 13, 2021
  • IPO price: $49
  • IPO valuation: $11.9 billion
  • Initial post-IPO arc: Positive

In the first venture-backed tech-ish IPO of the year, Affirm saw its stock price jump 100 percent on its first day of trading before closing out at $97.24. Affirm is a big player in the increasingly-popular “buy now, pay later space,” which also includes companies like AfterPay and Klarna. Since it went public in mid-January, the company’s stock has moved up and down, but overall its trajectory was positive until recent weeks. By Friday, June 4, it had dropped to $59.65 after peaking around $139.99 in mid-February.

Poshmark

  • IPO date: Jan. 14, 2021
  • IPO price: $42
  • IPO valuation: $3 billion
  • Initial post-IPO arc: Negative

Poshmark’s stock price doubled pretty much right out of the gate, and ended up closing out its first day of trading up 140 percent. The company, which operates a marketplace for new and second-hand clothing and accessories, reached a valuation of $3 billion with its IPO, one of the first of this year. But since Poshmark’s public market debut, its stock has fallen. It closed at $46.62 on Friday, June 4.

Playtika

  • IPO date: Jan. 15, 2021
  • IPO price: $27
  • IPO valuation: $11 billion
  • Initial post-IPO arc: Positive

Gaming is all the rage as people look to stay entertained at home during the COVID-19 pandemic. The market response to Playtika reflects that. Playtika’s stock price since its mid-January debut was mostly positive — until late March or so. Playtika’s stock closed at $25.82 on Friday, June 4.

Qualtrics

  • IPO date: Jan. 28, 2021
  • IPO price: $30
  • IPO valuation: $15 billion
  • Initial post-IPO arc: Positive

Qualtrics’ IPO was significant for a couple of reasons. It wasn’t a traditional venture-backed tech company going public, but one that had already been acquired. SAP acquired the company in 2018 before Qualtrics’ planned IPO, then ended up spinning it out in 2021. The IPO was also significant because it ended up being the largest IPO of a Utah-based company. Qualtrics’ public debut valued the company at $15 billion. Qualtrics’ stock closed at $32.07 on Friday, May 14.

Bumble

  • IPO date: Feb. 11, 2021
  • IPO price: $43
  • IPO valuation: $8.2 billion
  • Initial post-IPO arc: Positive

Bumble’s IPO made founder and CEO Whitney Wolfe Herd a billionaire and the youngest woman to take a company public. It was also a big deal for Texas’ tech scene, as the dating app is a homegrown Austin company. The company raised $2.15 billion through its IPO and its stock closed 64 percent above its IPO price on its first day of trading.The stock closed at $46.72 on Friday, June 4, above its IPO price.

Oscar Health

  • IPO date: March 3, 2021
  • IPO price: $39
  • IPO valuation: $7.9 billion
  • Initial post-IPO arc: Negative

Oscar’s public market debut wasn’t like many of the venture-backed IPOs we’ve seen recently where the stock surges right out of the gate. The company initially set a price range of between $32 and $34 before increasing it to between $36 and $38, and pricing at $39. The company closed its first day of trading at $34.80, and its stock fell to $25.70 on Friday, June 4.

Coupang

  • IPO date: March 11, 2021
  • IPO price: $35
  • IPO valuation: $60 billion
  • Initial post-IPO arc: Negative

While Coupang’s stock popped around 40 percent on its first day of trading, it trended mostly down in the first couple of weeks after the company went public, before rising. When the company went public in March, it made Coupang the largest IPO of the year so far, according to CNBC. The South Korean e-commerce company’s stock closed at $38.89 on Friday, June 4.

DigitalOcean

  • IPO date: March 23, 2021
  • IPO price: $47
  • IPO valuation: $5 billion
  • Initial post-IPO arc: Negative

DigitalOcean didn’t exactly start its time trading on the public markets on a high note. The company opened and closed its first day of trading below its IPO price, and its stock has pretty much gone down since then. Since DigitalOcean has been a public company, its stock hasn’t reached the IPO price of $47 that the company had set. Shares of DigitalOcean closed their first day of trading at $42.50. The stock closed at $40.07 on Friday, June 4, well below its IPO price. 

VIZIO

  • IPO date: March 25, 2021
  • IPO price: $21
  • IPO valuation: $3.9 billion 
  • Initial post-IPO arc: Positive

VIZIO finally made its public debut this year after filing for an IPO for a second time (it first filed in 2015). The company had a less-than-stellar debut when it began trading at the end of March, with its stock opening nearly 17 percent below its IPO price of $21. Since then, the company’s stock price has increased, reaching a high of $28.23 on May 4. VIZIO shares have tapered off a bit since then, and the stock closed at $21.94 on Friday, June 4.

ThredUp

  • IPO date:  March 26, 2021
  • IPO price: $14
  • IPO valuation: $1.3 billion 
  • Initial post-IPO arc: Negative

While ThredUp saw its stock close around 43 percent above its IPO price of $14 on its first day of trading, its stock fell then plateaued after it went public at the end of March. The company is one of a handful of clothing and accessories resale companies to go public in recent years, including Poshmark and The RealReal. The stock closed at $23.16 on Friday, June 4.

Coursera

  • IPO date: March 31, 2021
  • IPO price: $33
  • IPO valuation: $4.3 billion 
  • Initial post-IPO arc: Positive.

Coursera closed its first day of trading at $45, about 36 percent above its IPO price. Coursera marked the first major edtech IPO of the year, though it’s possible it won’t be the last. Other edtech companies rumored to be 2021 IPO candidates include Duolingo and Udemy. Coursera shares closed at $39.65 on Friday, May 14.

Compass

  • IPO date: April 1, 2021
  • IPO price: $18
  • IPO valuation: $8 billion 
  • Initial post-IPO arc: Negative. 

Compass’ IPO came after a busy year for the residential real estate market. The company, which operates like a brokerage but gives agents a suite of digital tools to better market themselves, raised about $450 million through its IPO. At the end of their first week as publicly traded shares, Compass stock closed at $21.90 on Thursday, April 8, below their IPO price. The stock closed at $14.95 on Friday, June 4, still below the IPO price.

AppLovin

  • First day of trading: April 15, 2021
  • IPO price: $80
  • Valuation: $28.6 billion
  • Initial arc: Negative

AppLovin’s time as a public company hasn’t exactly been off to a great start. Its stock opened well-below its IPO price on its first day of trading, and it still hasn’t reached the $80 mark. AppLovin shares closed out their first day of trading nearly 19 percent below the IPO price, and closed at $74.36 on Friday, June 4.

UiPath

  • IPO date: April 21, 2021
  • IPO price: $56
  • IPO valuation: $35 billion 
  • Initial post-IPO arc: Positive

Robotics and automation company UiPath went public in April after raising roughly $2 billion in funding as a private company. The company’s stock closed 23 percent above its IPO price on its first trading, and UiPath raised about $1.34 billion through its IPO, giving it a valuation of about $35 billion. Its initial post-IPO arc has been mostly positive, and the company closed at $75.75 on Friday, June 4, 2021.

DoubleVerify

  • IPO date: April 21, 2021
  • IPO price: $27
  • IPO valuation: $4.2 billion 
  • Initial post-IPO arc: Negative

DoubleVerify saw its stock pop about 33 percent on its first day of trading, closing at $36. But its stock price began to decline in May before rebounding. The company’s stock closed at $35.22 on Friday, June 4, 2021.

The Honest Company

  • IPO date: May 5, 2021
  • IPO price: $16
  • IPO valuation: $1.4 billion 
  • Initial post-IPO arc: Negative

Consumer goods brand The Honest Co. went public in early May. Shares of the company, which was founded by actress Jessica Alba, closed out the first day up nearly 44 percent. The stock has declined since then, closing on Friday, June 4 at $17.03.

Procore

  • First day of trading: May 19, 2021
  • IPO price: $67
  • Valuation: $9.6 billion
  • Initial arc: Negative

Construction tech company Procore raised nearly $635 million through its IPO and saw its stock pop 31 percent above its IPO price. But its stock price took a dip soon after before rebounding somewhat. While its initial post-IPO arc is mostly negative, its stock closed at $81.24 on Friday, June 4, well above its IPO price.

Oatly

  • First day of trading: May 19, 2021
  • IPO price: $17
  • Valuation: $10 billion
  • Initial arc: Positive

Oat milk maker Oatly went public a couple of weeks ago, with its stock popping 18 percent on its first day of trading. Its stock price has since been mostly positive without seeing any major dips. Oatly closed at $23.83 on Friday, June 4.

ZipRecruiter

  • First day of trading: May 26, 2021
  • IPO price: $18
  • Valuation: $2.4 billion
  • Initial arc: Positive

ZipRecruiter is bracing for demand as  society reopens from the COVID-19 pandemic. The company’s initial post-IPO arc has been mostly positive, without seeing any sharp dips since its public debut. The company’s stock closed at $25.54 on Friday, June 4.

FIGS

  • First day of trading: May 26, 2021
  • IPO price: $22
  • Valuation: $4.4 billion
  • Initial arc: Negative

FIGS, known for its customizable medical scrubs, was a notable clothing IPO, given the prominence of the health care professional in the last year. But while its stock initially popped upon its public debut, it has since fallen a bit, though it’s remained above its IPO price. FIGS closed at $31.35 on Friday, June 4.

Direct Listings

Roblox 

  • First day of trading: March 10, 2021
  • Reference price: $45
  • Valuation: $30 billion
  • Initial arc: Positive

Roblox marked both the first major direct listing of the year (in terms of tech companies) and one of the most-anticipated public debuts for gaming companies. The company’s stock surged 43 percent above its reference price and has had a generally positive trend since then, with a few dips here and there. Roblox’s stock closed at $99.57 on Friday, June 4.

Coinbase

  • First day of trading: April 14, 2021
  • Reference price: $250
  • Valuation: $86 billion
  • Initial arc: Negative.

Coinbase’s direct listing might have been the buzziest public debut of the year so far, and definitely the largest. The company opted to go the direct listing route, and set a reference price of $250, exceeding that on its first day of trading. Coinbase shares at one point hit a high of $429.54 before closing out their first day of trading at $328.28. But the stock has slipped since then, closing at $228.79 on Friday, June 4.

Squarespace

  • IPO date: May 19, 2021
  • Reference price: $50
  • IPO valuation: $7.4 billion 
  • Initial post-IPO arc: Positive

Website maker Squarespace saw its stock price fall on its first day of trading as a public company, closing 13 percent below its reference price. But the company’s stock has rebounded since then, and its initial post-IPO arc has been positive. Squarespace’s stock closed at $51.56 on Friday, June 4. 

SPACs 

Clover Health

  • First day of trading: Jan. 8, 2021
  • SPAC proceeds: Up to $1.2 billion
  • SPAC valuation: $7 billion, according to the Silicon Valley Business Journal
  • Initial stock price arc: Negative

Clover Health was the first VC-backed company to go public via a special purpose acquisition company, with Chamath Palihapitiya’s SPAC, Social Capital Hedosophia V, acquiring the startup. Clover Health’s stock price since the merger was completed in early January has trended negatively since it started trading. The stock closed down  at $9.00, on Friday, June 4.

Billtrust

  • First day of trading: Jan. 13, 2021
  • SPAC valuation: $1.3 billion
  • Initial stock price arc: Positive.

Payment cycle management platform Billtrust went public in mid-January after merging with South Mountain Merger Corp. The company raised $115 million in funding while private and announced plans to go public via a SPAC in the fall. Since the stock started trading, its initial arc has mostly been positive, though it took a dip in May when tech stocks in particular were battered. The stock closed at $15.27 on Friday, June 4.

Hims and Hers Health

  • First day of trading: Jan. 21, 2021
  • SPAC proceeds: $280 million
  • SPAC valuation: $1.6 billion, according to Forbes
  • Initial stock price arc: Positive

Hims and Hers Health, which initially started out as a company aimed toward men’s health issues but has since added products for women too, went public after merging with special purpose acquisition company Oaktree Acquisitions Corp. The deal was among the first major VC-backed SPAC mergers to be completed in 2021, and raised proceeds of about $280 million. Since the combined company’s stock started trading, its stock price was trending up and closed at $19.01 on Feb. 18, before taking a dive. The stock closed at $13.97 on Friday, June 4.

ChargePoint Holdings

  • First day of trading: Feb. 26, 2021
  • SPAC proceeds: $450 million, according to Inside EVs.
  • Initial stock price arc: Negative

Companies in the electric vehicle space are popular targets for SPACs and ChargePoint is among them. The company, which is based in Campbell, California, went public by merging with special purpose acquisition company Switchback Energy Acquisition Corp. Since the company completed the merger on Feb. 26 and began trading, its stock has fallen a bit. The stock closed at $28.11 on Friday, June 4.

Metromile

  • First day of trading: Feb. 9, 2021
  • SPAC proceeds: Unclear
  • Initial stock price arc: Negative

Digital insurance platform Metromile went public by merging with blank-check company INSU Acquisition Corp. II. The company, which is backed by investors including Index Ventures and Future Fund, follows other insurtech companies like Lemonade and Root to the public market, though through a SPAC rather than a traditional IPO. The company’s stock closed at $9.51 Friday, June 4.

Lightning eMotors

  • First day of trading: May 7, 2021
  • SPAC proceeds: $268 million
  • SPAC valuation: $823 million
  • Initial stock price arc: Negative

Lightning eMotors, which develops electric powertrains, went public after merging with GigCapital3. In the week or so that the newly-merged company has been trading, Lightning eMotors has seen its stock price decline quite a bit, closing at $8.15 on Friday, June 4.

Blade Air Mobility

  • First day of trading: May 7, 2021
  • SPAC proceeds: $400 million
  • SPAC valuation: $825 million
  • Initial stock price arc: Negative

The New York-based flight management company has seen its stock dip ever since the SPAC merger was completed and the new company began trading on the public markets. The stock price closed at $10.74 on Friday, June 4.

BarkBox

  • First day of trading: June 2, 2021
  • SPAC proceeds: $454 million
  • SPAC valuation: $1.6 billion
  • Initial stock price arc: Negative

The dog-focused subscription e-commerce company went public by merging with Northern Star Acquisition Group, finalizing the merger on June 1. The company initially saw its stock pop after the merger was completed, but it quickly declined in the following days. BarkBox’s stock closed at $10.65 on Friday, June 4.

SoFi

  • First day of trading: June 1, 2021
  • SPAC proceeds: $2.4 billion
  • SPAC valuation: $8.65 billion
  • Initial stock price arc: Negative

Fintech company SoFi went public after merging with one of Chamath Palihipitiya’s SPACs, and began trading earlier this week. The company saw its stock pop on its first day of trading, but the price quickly fell in subsequent days. The company’s stock closed at $20.82 on Friday, June 4.

This list will be updated regularly to keep up with the robust IPO and SPAC pipeline coming up this year, so be sure to check back.

Illustration: Dom Guzman

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