Public Markets

Here’s Who Has Gone Public In 2018 (So Far)

Alex WilhelmHolden PageSavannah Dowling
October 3, 2018
206 Shares

Earlier this year, it was too early to tell if the 2018 IPO cycle would bear out. After all, the preceding several years had proven to be consistent disappointments when it came to tech startup liquidity. Few startups went public, and a horde of richly-valued unicorns sat on the sidelines simply waiting.

Happily, for investors and founders alike, 2018 has produced a host of technology IPOs. In fact, the flow of tech companies going public was a theme in our Q1 venture reporting and our Q2 venture reporting. In the middle of the year, it was plain that things were going to stay hot, and despite a present pause, the rest of the year is looking busy on the IPO front.

This year has seen a host of Chinese companies going public domestically (here are a few stories on that), a brace of hardware IPOs, and SaaS has done well in terms of offerings, and results.

There have been a few misses, of course. Domo’s hot mess forced it to give up most of its paper value. Meanwhile, M17 Entertainment struggled in its debut, with CEO ringing the bell and then announcing days later that the company had shelved its IPO.

All told, however, the year-to-date, domestic technology IPO list is getting long. So we decided to write it down in one place so we could look back at it in a year and give it a grade. (If we missed anyone, email me.)

Here’s the list, ordered by the IPO date. Crunchbase News links generally include pre-IPO notes on the company in question. Stock price information is pulled from public information on Crunchbase profile pages.

Tencent Music

Tencent Music, the music-focused spinoff of Chinese internet giant Tencent, filed to go public in early October. The company’s F-1 detailed strong financials, with profitability and revenue growth, and a growing user base. Its updated financials confirmed that rapid growth and minimal loss, further differentiating it from Spotify. Tencent Music priced its shares at the bottom of its $13 to $15 range.

  • IPO Date. Dec 12, 2018
  • Valuation at IPO. $21,300,000,000
  • Money Raised at IPO. $1,100,000,000
  • Stock Symbol. $TME

MOGU

The China-based owner of fashion app Mogujie (“Mushroom Street”) is deeply unprofitable and slow growing. Mogu ended up cutting its expected raise and valuation ahead of its debut. The company priced its shares at the low end of its $14 to $16 price range, and opened down 14 percent at $12 per share.

  • IPO Date. Dec 5, 2018
  • Valuation at IPO. —
  • Money Raised at IPO. $67,000,000
  • Stock Symbol. $MOGU

Weidai

Weidai is a peer-to-peer lending company that is based in China. According to Technode, the profitable company “connects Chinese borrowers– who use their car as collateral– with peer and institutional lenders.” The company offered 4.5 million shares in its debut at a price point of $10.

  • IPO Date. Nov 15, 2018
  • Valuation at IPO. 699,000,000
  • Money Raised at IPO. $45,000,000
  • Stock Symbol. $WEI

Niu.com

When you hop on a Bird or Lime scooter, you’re really flying down the streets with a Niu-built scooter.

The supplier went public in the midst of a scooter share boom that Crunchbase News has covered at length. Only a couple of months after going public, claims that scooter startups are in a bubble are gaining ground. What that will continue to do to the Niu’s stock price remains to be seen.

  • IPO Date. Oct 20, 2018
  • Valuation at IPO. —
  • Money Raised at IPO. $63,000,000
  • Stock Symbol. $NIU

SolarWinds

The IT infrastructure shop was previously acquired by Them Bravo in 2015 after going public. This time around the company, which is heavily in debt, priced at $15 per share, at the bottom end of its $15 to $16 range, and well below its previously expected $19 price point. The company opened up 2 percent, and fell in lader trading on its first day.

  • IPO Date. October 18, 2018
  • Valuation at IPO. $4,600,000,000
  • Money Raised at IPO. $375,000,000
  • Stock Symbol. $SWI

Anaplan

The cloud-based management platform raised its price range, and then priced at the top at $17 per share. Despite market turmoil during the week of its IPO, the growing company soared 40 percent during its debut.

  • IPO Date. Oct 12, 2018
  • Valuation at IPO. $1,400,000,000
  • Money Raised at IPO. $263,500,000
  • Stock Symbol. $PLAN

Elastic

Another search shop listed, but it’s not another Google. Instead, it’s an unprofitable company sporting high growth. The company priced its IPO at$36 per share, above its raised range of $33 to $35. The company’s shares spiked in its first day of trading, closing up 94 percent at $70.

  • IPO Date. Oct 4, 2018
  • Valuation at IPO. $2,500,000,000
  • Money Raised at IPO. $252,000,000
  • Stock Symbol. $ESTC

UpWork

Wrangling freelancers is a lucrative business, as UpWork is proving with its IPO debut. The company set an above range IPO price of $15 per share. Its original range was $10 to $12 per share. Of course, like many companies on this list, spoils go to those who appear to prioritize growth over profits. UpWork is no exception, and investors have rewarded the company with a strong first-day pop.

  • IPO Date. Oct 2, 2018
  • Valuation at IPO. —
  • Money Raised at IPO. $187,000,000
  • Stock Symbol. $UPWK

Crunchbase News Coverage

CooTek

Unlike many tech companies going public, CooTek, which creates a custom keyboard for mobile devices, priced at the low end of its range at $12 per share. It was not able to maintain that price on its first day of trading. Compared to fellow China-based Viomi, CooTek has stumbled in the public markets and has not yet shown signs of improving.

  • IPO Date. Sep 27, 2018
  • Valuation at IPO. —
  • Money Raised at IPO. $52,200,000
  • Stock Symbol. $CTK

SurveyMonkey

After years of rumors that SurveyMonkey will go public, the company finally pulled the trigger. The survey company, founded in 1999, was welcomed by investors. It even felt confident enough to raise its initial price range. According to the Motley Fool, shares were up 44 percent on the first day of trading.

  • IPO Date. Sep 26, 2018
  • Valuation at IPO. $1,466,000,000
  • Money Raised at IPO. $180,000,000
  • Stock Symbol. $SVMK

Crunchbase News Coverage

Viomi

Unlike a lot of tech going public, Viomi reportedly had profits under its belt coupled with growth. It’s also a solid win for China’s tech ecosystem.

  • IPO Date. Sep 25, 2018
  • Valuation at IPO. $1,870,000,000
  • Money Raised at IPO. $102,600,000
  • Stock Symbol. $VIOT

Crunchbase News Coverage

Farfetch

Based out of London, this fashion and clothing apparel company was shooting for billions on the public markets. However, Farfetch’s losses were quite significant. Still, investors appear to be bullish on the company. Farfetch asked for a top-end valuation of $6 billion, which Crunchbase News noted might be a bit too ambitious. However, Farfetch currently has a market cap of $7.82 billion. It seems investors have given us answer.

  • IPO Date. Sep 21, 2018
  • Valuation at IPO. $5,800,000,000
  • Money Raised at IPO. $885,000,000
  • Stock Symbol. $FTCH

Crunchbase News Coverage

Eventbrite

Founded in 2016, the ticketing and events company filed its S-1 in late August. The former unicorn boasted healthy numbers, despite a lack of GAAP profits. However, most tech shops going public in 2018 put growth before profit. Eventbrite ended up pricing its IPO at $23, the top of its proposed per share price range.

  • IPO Date. Sep 19, 2018
  • Valuation at IPO. $1,750,000,000
  • Money Raised at IPO. $230,000,000
  • Stock Symbol. $EB

Crunchbase News Coverage

NIO

When the Chinese electric car company filed to go public, it looked like a big gamble with a lack of operational history, proven long-term revenue growth, or a clear path to profitability. The company aimed for an $8 billion valuation, setting a range of $6.25 to $8.25 per share, which was well below initial targets. When the day came, the company priced at the bottom of that range, falling in early trading. Its shares then spiked up 93 percent just two days later.

  • IPO Date. Sep 12, 2018
  • Valuation at IPO. $6,400,000,000
  • Money Raised at IPO. $1,000,000,000
  • Stock Symbol. $NIO

Arlo Technologies

Crunchbase notes no venture funding for security and video monitoring company, but that didn’t impact its successful debut. Despite pricing at $16 per share, under its initial range of $18 to $20, the company closed at $22.10 on the first day of trading. It has since stayed in the $19 to $22 range since August 3.

  • IPO Date. Aug 2, 2018
  • Valuation at IPO. $1,163,440,000
  • Money Raised at IPO. $163,200,000
  • Stock Symbol. $ARLO

Crunchbase News Coverage

Sonos

Hardware isn’t dead, at least in 2018. Sonos’s IPO was notable for a few reasons, including its competitive landscape. Only so many companies can be up against Apple and Alphabet at the same time. Still, Sonos is worth a few bucks more per share than it was before, so that’s good.

  • IPO Date. August 1, 2018
  • Valuation at IPO. $1,475,769,285
  • Money Raised at IPO. $83,000,000
  • Stock Symbol. $SONO

Crunchbase News Coverage

Opera

Opera is a browser that you might have used before Chrome came out. That’s the last time I can recall using it. However, the company behind the browser went public this year off the strength of 322 million monthly active users of its browser tech on both mobile phones and PCs. That’s impressive. Even more impressive? Opera turned in positive net income before it went public. How rare is that!

  • IPO Date. Jul 27, 2018
  • Money Raised at IPO. $115,000,000
  • Stock Symbol. $OPRA

Cango

Cango’s IPO run hasn’t gone well. The China-based firm that focuses on linking car buyers, banks, and dealers went public at $11 per share. It’s now worth just $9 and change. Those results are odd given that Cango is profitable. It made money when it went public, and its most-recent earnings report lists profit as well. And it’s working with mega-unicorn Didi, making its share price slide all the more notable.

  • IPO Date. Jul 26, 2018
  • Valuation at IPO. $1,800,000,000
  • Money Raised at IPO. $44,000,000
  • Stock Symbol. $CANG

Endava

From across the pond, London’s Endava took its software development outsourcing work to the New York Stock Exchange. From its IPO price of $20, Endava is now worth more than $26 per share today. The company acquired three companies before it went public.

  • IPO Date. Jul 26, 2018
  • Valuation at IPO. $1,060,000,000
  • Money Raised at IPO. $127,000,000
  • Stock Symbol. $DAVA

Tenable

Tenable had a long road to its public debut. Founded in 2002, the self-described “network security” company went public 16 years laster. Based in Maryland, of all states, Tenable raised more than $300 million before it went public. The firm’s quick revenue growth in recent quarters was overshadowed by growing deficits. But its stock is up sharply from its IPO price, so no harm no foul for now.

  • IPO Date. Jul 26, 2018
  • Valuation at IPO. $2,094,000,000
  • Money Raised at IPO. $250,000,000
  • Stock Symbol. $TENB

Crunchbase News Coverage

Pinduoduo

A competitor to China-based ecommerce giant Alibaba, Pinduoduo priced its shares at $19 with a valuation at IPO of $24 billion. Aside from an initial share bump in the first month of trading, Pinduoduo has not deviated far from its initial pricing. It raised a total of $1.7 billion from investors.

  • IPO Date. Jul 26, 2018
  • Valuation at IPO. $24,000,000,000
  • Money Raised at IPO. $1,630,000,000
  • Stock Symbol. $PDD

Crunchbase News Coverage

Bloom Energy

Bloom Energy is an interesting company. It was supposed to go public years ago, but didn’t. And when it did, its S-1 had some weird stuff in it. And then the company had to recant a bunch of its CEO’s words after it went public. I guess the IPO window really is open.

  • IPO Date. Jul 24, 2018
  • Valuation at IPO. $1,600,000,000
  • Money Raised at IPO. $270,000,000
  • Stock Symbol. $BE

Crunchbase News Coverage

Domo

Domo is this year’s poster child of how not to spend money. The Silicon Slopes SaaS collective presented a high cost structure in its IPO filing, inclusive of slow growth and a huge thirst for cash. Those reasons, and more, led to Domo taking a massive valuation haircut. We’ll see how it does on its first earnings call the day after this post goes live.

  • IPO Date. June 28, 2018
  • Valuation at IPO. $511,000,000
  • Money Raised at IPO. $193,000,000
  • Stock Symbol. $DOMO

Crunchbase News Coverage

EverQuote

Car insurance startups are popular amongst venture capitalists. The China-based company initially priced its shares in the range of $15 to $17. It ended up opening at $18 per share. Since its debut on July 1, it has experienced a steady decline in share price, most recently closing at $12.55—a somewhat common occurrence among U.S. listened companies based in China.

  • IPO Date. Jun 27, 2018
  • Valuation at IPO. $446,000,000
  • Money Raised at IPO. $84,000,000
  • Stock Symbol. $EVER

Uxin

Based in China, Uxin is an e-commerce shop for used cars that raised $960 million in venture funding. It had to price its share at $9 apiece, below its target $10.50 to $12.50 range. Still, its valuation at IPO was $3.5 billion, a good amount above its estimated $1 billion to $2 billion private valuation.  Since then, the company has seen it’s share price drop by nearly half with few signs of rebounding.

  • IPO Date. Jun 27, 2018
  • Valuation at IPO. $3,500,000,000
  • Money Raised at IPO. $225,000,000
  • Stock Symbol. $UXIN

HyreCar

Love Uber? Love Lyft? Want to make money from ridersharing giants, but don’t want to drive yourself? HyreCar will let you hire out your car to someone who does want to drive. It’s a neat model, and the fact that HyreCar managed to go public off the idea is evidence of how larger ridesharing has become in the United States. The company is incredibly unprofitable.

  • IPO Date. Jun 25, 2018
  • Valuation at IPO. $58,000,000
  • Money Raised at IPO. $12,600,000
  • Stock Symbol. $HYRE

i3 Verticals

Credit card processing startups should feel motivated by i3 verticals IPO. The Nashville, TN-based company opened at $13 per share, and ended its first day of trading at $18.35. I3 Vertical’s then dipped for approximately two months, but shares recently rebounded to $19.08 as of close on September 5. It raised a modest $30.8 million in funding, according to Crunchbase.

  • IPO Date. Jun 20, 2018
  • Valuation at IPO. $328,000,000
  • Money Raised at IPO. $86,450,000
  • Stock Symbol. $IIIV

Avalara

Tax compliance software company went public in June, aiming to price between $21 and $23 per share. As it turns out, investors were willing to pay quite a bit more. After opening at $24, the company closed at an impressive $44.94 a share. It raised $340.9 million in private capital from Warburg Pincus, Battery Ventures, and Sageview Capital. It has a market cap, at time of writing, of $2.6 billion.

  • IPO Date. Jun 12, 2018
  • Valuation at IPO. $1,364,000,000
  • Money Raised at IPO. $157,500,000
  • Stock Symbol. AVLR

Crunchbase News Coverage

GreenSky

Online lending for home improvement went to the public markets in GreenSky, an unexpected IPO candidate. It originally set a target share price of $23, given it a valuation of $4.4 billion. The stock continued to climb for about a month before going into decline. The company is now has a market cap of $3.58 billion at $19.16 per share. Before going public, investors put $610 million into the company.

  • IPO Date. May 24, 2018
  • Valuation at IPO. $4,350,000,000
  • Money Raised at IPO. $874,000,000
  • Stock Symbol. $GSKY

Crunchbase News Coverage

Pluralsight

This Utah-based elearning company wasn’t afraid to burn money, and investors didn’t seem to mind. The company, which was last privately valued at $1 billion, ended up with a valuation at IPO of $2 billion with an IPO share price of $15, above its already-raised target of $14 share. For a company that raised $150 million in venture capital, this likely represented a solid win for investors such as ICONIQ Capital, Insight Venture Partners, and more. The company has a market cap of $4.69 billion at the time of writing.

  • IPO Date. May 17, 2018
  • Valuation at IPO. $1,980,000,000
  • Money Raised at IPO. $310,000,000
  • Stock Symbol. $PS

Crunchbase News Coverage

Huya

A Twitch competitor, China-based Huya raised $536 million in venture funding. Its IPO was a success. Initially pricing at $12 a share, the firm has doubled its share price to $27. It does not seem to be significantly impacted by news of China’s will to reign in video games.

  • IPO Date. May 11, 2018
  • Valuation at IPO. $2,418,000,000
  • Money Raised at IPO. $180,000,000
  • Stock Symbol. $HUYA

Crunchbase News Coverage

Smartsheet

Based near Microsoft, Smartsheet is another SaaS success story for 2018. The company priced at $15 per share during its IPO. It’s worth just over $29 today. The reporting-focused company raised over $113 million while private.

  • IPO Date. Apr 27, 2018
  • Valuation at IPO. $990,000,000
  • Money Raised at IPO. $150,000,000
  • Stock Symbol. $SMAR

Crunchbase News Coverage

Docusign

Docusign is another company that you have used. The e-signuature company was also a long-rumored IPO candidate. Since going public, things have gone well for Docusign, whose shares have more than doubled.

  • IPO Date. Apr 27, 2018
  • Valuation at IPO. $4,498,000,000
  • Money Raised at IPO. $629,000,000
  • Stock Symbol. DOCU

Crunchbase News Coverage

Ceridian HCM Holding

An HR services provider, Ceridian had an investment total of $150 million prior to going public. The company opened at $22 a share. It has since performed well above its initial pricing, hovering around $30 a share and above.

  • IPO Date. Apr 26, 2018
  • Stock Symbol. $CDAY

Pivotal Software

At the time of its open on April 20, Pivotal Software’s $15 IPO share price appeared bold. It would give the software services company a larger revenue multiple than Box, a file storage company that was growing faster and was not losing as much money. However, investors seem to be content with the price they paid. In fact, it has been steadily trading above its IPO price since open, closing at near-record highs of $28.85 as of September 4th.

  • IPO Date. Apr 20, 2018
  • Valuation at IPO. $3,800,000,000
  •  Money Raised at IPO. $555,000,000
  • Stock Symbol. $PVTL

Crunchbase News Coverage

Zuora

Zuora is a company synyomous with the boom in subscriptions. As a company itself, it helps other companies accept recurring payments that it charges for on a recurring basis. It’s SaaS all the way down!

  • IPO Date. Apr 12, 2018
  • Valuation at IPO. $1,449,000,000
  • Money Raised at IPO. $154,000,000
  • Stock Symbol. $ZUO

Crunchbase News Coverage

Carbon Black

Carbon Black’s IPO was a success, twice. The Waltham, Massachusetts-based cybersecurity company managed to best its last-private valuation in the offering. And then it added nearly $6 per share to its valuation since. The endpoint-focused cybersec shop raised around $192 million while private.

  • IPO Date. Apr 10, 2018
  • Valuation at IPO. $1,250,000,000
  • Money Raised at IPO. $152,000,000
  • Stock Symbol. $CBLK

Crunchbase News Coverage

Spotify

Spotify didn’t have an IPO. It had a direct listing. That’s the hipster version of going public when you are too cool to need to raise money during your flotation. Fine. Critics thought it would fail. It didn’t. Spotify was expected to save money through the proess. It didn’t.

  • IPO Date. Apr 3, 2018
  • Valuation at IPO. $29,500,000,000
  • Money Raised at IPO. $9,245,000,000
  • Stock Symbol. $SPOT

Crunchbase News Coverage

IQIYI

A China-based video streaming service, the company trading under the symbol IQ has performed well despite its huge losses. Its IPO share price was $18 dollars. Over the post few months, it has been trading steadily at $25-$30 a share.

  • IPO Date. Mar 29, 2018
  • Valuation at IPO. $13,500,000,000
  • Money Raised at IPO. $2,250,000,000
  • Stock Symbol. $IQ

BiliBili

Another video sharing site based in China, this time focused on games, had an IPO share price of $11.50 on March 27, 2018. But it would nearly two more months to price above its opening price. According to Business Insider, the company had originally wanted its price target to be $15.

While BiliBili has experienced some upwards momentum in share price, China’s apparent lock down on video gaming could have substantial impact on the company’s engagement numbers.

  • IPO Date. Mar 28, 2018
  • Valuation at IPO. $3,202,000,000
  • Money Raised at IPO. $483,000,000
  • Stock Symbol. $BILI

Dropbox

You know Dropbox. The San Francisco decacorn managed to go public at a valuation near its final private price tag, only to perform well after the fact. The company’s S-1 was among the most anticipated in the last decade.

  • IPO Date. Mar 23, 2018
  • Valuation at IPO. $9,200,000,000
  • Money Raised at IPO. $756,000,000
  • Stock Symbol. $DBX

Crunchbase News Coverage

Zscaler

Zascaler is a San Jose-based security firm that sells its services on a recurring basis. But don’t let that bore you. Zsaler has been on a tear since going public, shooting from $16 per share to around $44 as of the time of writing.

  • IPO Date. Mar 16, 2018
  • Valuation At IPO. $1,900,000,000
  • Money Raised At IPO. $192,000,000
  • Stock Symbol. $ZS

Crunchbase News Coverage

Senmiao Technology

This year has brought some huge Chinese IPOs. And, in the case of Senmiao, a small one as well. The firm raised $12 million during its debut on the Nasdaq according to Crunchbase, valuing itself at just $102 million. Its value has since appreciated, giving the lending connector a slightly more lustrous price tag—call it a microcorn.

  • IPO Date. Mar 16, 2018
  • Valuation at IPO. $102,000,000
  • Money Raised at IPO. $12,000,000
  • Stock Symbol. $AIHS

Cardlytics

Based in payments-hub Atlanta, Cardlytics peers into spending data and helps pull out the trends. That data, sold to marketers and financial shops according to its website, is worth a pretty penny.

  • IPO Date. Feb 8, 2018
  • Valuation At IPO. $273,000,000
  • Money Raised At IPO. $203,000,000
  • Stock Symbol. $CDLX

Crunchbase News Coverage

Huami

Huami is a China-based wearables company. The firm, which went public on the New York Stock Exchange, raised over $78 million as a private company, as has fallen under its IPO price since going public.

  • IPO Date. Feb 8, 2018
  • Valuation at IPO. $690,000,000
  • Money Raised at IPO. $110,000,000
  • Stock Symbol. $HMI

One Stop Systems (OSS)

A data center shop focusing on providing systems for intensive computing tasks such as deep learning and financial trading, the company went public on February 1, 2018. At the time of its IPO, the company was valued at $61.7 million. According to Tradingview, it hit a peak stock price of $6.10 at close of March 9, 2018. However, it has steadily trended downward since then. Most recently, the company has agreed to acquire Concept Development, which creates in-flight entertainment systems.

  • IPO Date. Feb 1, 2018
  • Valuation at IPO. $61,715,000
  • Money Raised at IPO. $19,000,000
  • Stock Symbol. $OSS

PagSeguro

PagSeguro is a Brazil-based mobile and web payment service. It works specifically “between sellers and buyers,” according to its Crunchbase page.

  • IPO Date. Jan 24, 2018
  • Valuation at IPO. $5,639,000,000
  • Money Raised at IPO. $2,265,789,433
  • Stock Symbol. $PAGS

Crunchbase News Coverage

ADT

ADT is a security company that you’ve probably heard of. We included the Florida-based home protection in our technology list due to its use of digital services like live streamed video, and smart-home services and applications.

  • IPO Date. Jan 18, 2018
  • Valuation at IPO. $10,485,000,000
  • Money Raised at IPO. $1,470,000,000
  • Stock Symbol. $ADT

Outside Of The United States

The list doesn’t include great debuts like Xiaomi’s IPO, Jia.com’s, and others as they didn’t list here in America. It also doesn’t include a few London-listed IPOs that we’ve written about as well. But, for better or for worse, we have a domestic focus. At least for now.

Notable Upcoming IPOs

There are also a handful of unicorns and startups looking to go public. Whether they will be able to pull it off by the end of 2018 is debatable—the IPO process is fraught with complexity and can easily be derailed. But the following startups are the most likely to make the 2018 IPO list.

  • YayYo. This company is a bit confusing. But nonetheless, it’s a tech shop going public in the U.S.

As more tech companies go public or announce their intentions to do so, this article will continually be updated.

Stay up to date with recent funding rounds, acquisitions, and more with the Crunchbase Daily.

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