Datastream
The 10 Largest U.S. Tech IPOs in History
The Briefing
- The IPOs of Airbnb, DoorDash, and Snowflake raised over $3 billion each
- This secures their spot among the 10 largest U.S. tech IPOs in history
U.S. Tech IPOs: Three Stocks from 2020 Break into the Top Ten
2020 was an eventful year for IPOs despite the economic hardships caused by COVID-19. Over $300 billion was raised in U.S. equity markets, with companies from the tech sector generating a significant amount of hype.
Among these companies were Airbnb, DoorDash, and Snowflake, all of which raised over $3 billion. To put this into perspective, let’s look at the 10 biggest U.S. tech IPOs of all time.
The Top 10 U.S. Tech IPOs
Airbnb, DoorDash, and Snowflake muscled their way into the top 10, raising a combined $10.3 billion dollars in the second half of 2020.
| Rank | Company | IPO Date | Amount Raised (USD billions) |
|---|---|---|---|
| 1 | May 2012 | $16.0 | |
| 2 | Uber | May 2019 | $8.1 |
| 3 | Agere Systems | March 2001 | $4.1 |
| 4 | Snap | March 2017 | $3.9 |
| 5 | Airbnb | December 2020 | $3.5 |
| 6 | Snowflake | September 2020 | $3.4 |
| 7 | DoorDash | December 2020 | $3.4 |
| 8 | Lyft | March 2019 | $2.6 |
| 9 | Altice USA | June 2017 | $2.2 |
| 10 | November 2013 | $2.1 |
Not adjusted for inflation.
More than eight years after going public, Facebook maintains a sizable lead over industry peers. The $16.0 billion IPO by the social networking company is also the second largest in U.S. business history, falling only shy of the $17.9 billion raised by Visa in March 2008.
The Airbnb IPO
Airbnb is an online vacation marketplace that connects vacationers with “hosts” who offer accommodations for short-term booking. Since its creation in 2008, Airbnb has grown in size and influence, disrupting the hotel industry in the process.
Airbnb’s IPO raised $3.5 billion by selling 51.5 million Class A shares at $68 each. Airbnb shares closed 112% higher after their first day of trading on December 10, a sign of strong investor optimism.
The Snowflake IPO
Snowflake is a data-warehousing company that provides its customers with cloud-based data storage services. Noteworthy clients of Snowflake include CapitalOne, Logitech, and the University of Notre Dame.
Snowflake’s IPO raised $3.4 billion by selling 28 million Class A shares at $120 each. Similar to Airbnb, shares of Snowflake made an impressive climb on their first day of trading, even surpassing the $300 mark. With this achievement, Snowflake became the largest company to double its market cap on opening day.
The DoorDash IPO
DoorDash is a food delivery platform similar in concept to Uber Eats and Grubhub. The business was well-positioned to take advantage of COVID-19 lockdowns which had led to a surge in food delivery orders.
DoorDash’s IPO raised $3.4 billion by selling roughly 33 million Class A shares at $102 each. Like its peers, DoorDash rose on its first day of trading, closing at $189.51 a share.
Investor Optimism Outweighs Traditional Thinking
A common factor among each of these tech IPOs is that none of the companies have turned a profit. This has drawn criticism from members of the investment industry, especially regarding DoorDash’s IPO.
This is Silicon Valley selling public markets an asset at a huge premium…and I think a lot of individual investors rushing into this are going to lose a lot of money.
—David Trainer, CEO, New Constructs
Regardless, DoorDash investors remain bullish. As of February 3, 2021, the company’s shares have climbed 27% year to date (YTD).
»If you found this article interesting, you might enjoy this post on the world’s largest IPOs.
Where does this data come from?
Source: FactSet, Nasdaq
Details: Retrieved on Jan. 26, 2020. Not adjusted for inflation.
Datastream
Charted: The Ukraine War Civilian Death Toll
Using data from the UN, this chart shows civilian death toll figures resulting from Russia’s invasion of Ukraine.
The Briefing
- In total, since the war began in February there have been over 7,031 Ukrainian civilian deaths
- Most of the civilian casualties recorded were caused by the use of explosive weapons, such as missiles and heavy artillery
Charted: The Ukraine War Civilian Death Toll
Russia’s war of aggression in Ukraine has wrought suffering and death on a mass scale, with many Russian attacks targeted at civilians.
We’ve created this visual using data from the UN Office of the High Commissioner for Human Rights (OHCHR) to better understand how many civilians have died in Ukraine as a result of the war, as well as how many were injured and how many were children.
The Numbers
As of early December, it is reported that 7,031 people in Ukraine have died because of the war — 433 of them children. Another 11,327 have been injured, 827 of which are children. In total, this is over 18,000 people killed or injured.
The figures are difficult to verify due to differing reports coming out of both Russia and Ukraine. The UN OHCHR anticipates that the numbers could be even higher.
The State of the Conflict
The war began on February 24th, 2022 and less than a year in, millions of people have been displaced by the conflict, and thousands of civilians have been injured or killed.
According to the UN, most of the civilian deaths have been caused by wide-ranging explosives such as heavy artillery shelling, missiles, and air strikes, and have been concentrated in Donetsk and Luhansk and in other territory still held by Ukraine.
Additionally, new estimates from Kyiv report approximately 13,000 Ukrainian military or soldier deaths, which has yet to be confirmed by the army.
Where does this data come from?
Source: The United Nations Office of the High Commissioner for Human Rights monthly reports on civilian deaths in Ukraine.
Note: Data on deaths and injuries can vary wildly depending on the source.
-
Markets2 weeks agoThe Biggest Global Risks of 2023
-
Markets4 weeks agoTop Heavy: Countries by Share of the Global Economy
-
Politics1 week agoVisualizing the World’s Top 25 Fleets of Combat Tanks
-
Money4 weeks agoU.S. Inflation: How Much Have Prices Increased?
-
Energy1 week agoThe Periodic Table of Commodity Returns (2013-2022)
-
Misc3 weeks agoInfographic: The Longest Lasting Cars, in Miles
-
Politics1 week agoWhich Countries are the Most Polarized?
-
Markets3 weeks agoThe U.S. Stock Market: Best and Worst Performing Sectors in 2022