Venture

It’s Not All Uber: An IPO Snapshot

Morning Markets: Good morning and happy Friday let’s talk about stocks.

It’s been a busy and interesting week, meaning that we’ve been hard at work here at Crunchbase News. Given the sheer pace of the news over the past few days, I wanted to take a break and chat through the IPOs we’re keeping an eye on.

Consider this a quick summary of things so that we can start next week on the same page. And to make this easier on both of us, we’ll use Mr. Page’s least favorite writing technique, the bullet point:

  • SuperLeagueGaming: The smallest IPO on this list, our little esports company was the first out of the gate this year. It went public at $11 per share. It’s now worth a little over $7. We’re talking about this company as it meets our criteria (tech-focused, listed in the United States), but past that we don’t pay it much mind.
  • Lyft: Lyft has filed privately, filed publicly, indicated a price range, raised that range, priced at the top of its raised range, had a huge first day, and has since drifted lower. The company’s huge run to the public markets has been tempered by its post-IPO performance. Of course, it’s early days yet for the ride-hailing firm that now has a few extra billion bucks to spend.
  • PagerDuty: The first business-to-business IPO of the year, we first took a peek at PagerDuty’s filing here. What’s most notable about the company in our current context, however, is that it skyrocketed on its first day of trading (recall that it raised its range before pricing). Putting aside any sort of pricing discussion, the trading movement matters for other SaaS companies looking to raise, or debut themselves. After Lyft’s bittersweet life as an IPO candidate and newly public company, PagerDuty is a pure sugar high for the venture class.
  • Zoom: The Zoom S-1 was a surprise, showing huge growth and GAAP profit. After pulling that rabbit out of the hat, the company set a price range and we’re waiting for it to either raise its range or price altogether. In the wake of the PagerDuty IPO, expect there to be blood in the water for Zoom shares. (The irony here is that Zoom doesn’t need to sell more shares to raise more capital in its debut, because it makes money, the result of which could be a constrained offering and float that could exacerbate the demand-side of the IPO equation.)
  • Jumia: Jumia priced yesterday and is expected to trade today. As we noted in our previous coverage, the firm is a sort of “Amazon for Africa,” providing ecommerce tools, distribution of goods, and last-mile delivery. It’s freaking cool, in other words. It also loses piles of money. We’ll have more next week when its price settles out.
  • Uber: What haven’t we said about Uber that there is to be said? Read this and this!

All that in under 500 words. Bonus points for me. Stay cool, listen to Equity (here), and I’ll see you Monday.

Disclosure: Mayfield and Emergence are investors in Lyft and Zoom, respectively. And they are investors in Crunchbase, our parent company. Investors in Crunchbase don’t have any say in what we write, but we point out conflicts when they arise for visibility. More on how we work here.