Companies Gone Public in 2021: Visualizing Valuations
Despite its many tumultuous turns, last year was a productive year for global markets, and companies going public in 2021 benefited.
From much-hyped tech initial public offerings (IPOs) to food and healthcare services, many companies with already large followings have gone public this year. Some were supposed to go public in 2020 but got delayed due to the pandemic, and others saw the opportunity to take advantage of a strong current market.
This graphic measures 68 companies that have gone public in 2021 — including IPOs, SPACs, and Direct Listings—as well as their subsequent valuations after listing.
Who’s Gone Public in 2021?
Historically, companies that wanted to go public employed one main method above others: the initial public offering (IPO).
But companies going public today readily choose from one of three different options, depending on market situations, associated costs, and shareholder preference:
- Initial Public Offering (IPO): A private company creates new shares which are underwritten by a financial organization and sold to the public.
- Special Purpose Acquisition Company (SPAC): A separate company with no operations is created strictly to raise capital to acquire the company going public. SPACs are the fastest method of going public, and have become popular in recent years.
- Direct Listing: A private company enters a market with only existing, outstanding shares being traded and no new shares created. The cost is lower than that of an IPO, since no fees need to be paid for underwriting.
The majority of companies going public in 2021 chose the IPO route, but some of the biggest valuations resulted from direct listings.
|Listing Date||Company||Valuation ($B)||Listing Type|
|21-Jan-21||Hims and Hers Health||$1.6||SPAC|
|05-May-21||The Honest Company||$1.4||IPO|
|07-May-21||Blade Air Mobility||$0.83||SPAC|
|29-Sep-21||Warby Parker||$6.0||Direct Listing|
|27-Oct-21||Rent the Runway||$1.7||IPO|
Though there are many well-known names in the list, one of the biggest through lines continues to be the importance of tech.
A majority of 2021’s newly public companies have been in tech, including multiple mobile apps, websites, and online services. The two biggest IPOs so far were South Korea’s Coupang, an online marketplace valued at $60 billion after going public, and China’s ride-hailing app Didi Chuxing, the year’s largest post-IPO valuation at $73 billion.
And there were many apps and services going public through other means as well. Gaming company Roblox went public through a direct listing, earning a valuation of $30 billion, and cryptocurrency platform Coinbase has earned the year’s largest valuation so far, with an $86 billion valuation following its direct listing.
Big Companies Going Public in 2022
As with every year, some of the biggest companies going public were lined up for the later half.
Tech will continue to be the talk of the markets. Payment processing firm Stripe was setting up to be the year’s biggest IPO with an estimated valuation of $95 billion, but got delayed. Likewise, online grocery delivery platform InstaCart, which saw a big upswing in traction due to the pandemic, has been looking to go public at a valuation of at least $39 billion.
Of course, it’s common that potential public listings and offerings fall through. Whether they get delayed due to weak market conditions or cancelled at the last minute, anything can happen when it comes to public markets.
This post has been updated as of January 1, 2022.
Who Owns the Most Satellites?
Despite Starlink’s dominance in the industry, the company is set to face intense competition in the coming years.
Who Owns the Most Satellites?
Nearly 7,000 satellites orbit the Earth, serving vital functions such as communication, navigation, and scientific research.
In 2022 alone, more than 150 launches took place, sending new instruments into space, with many more expected over the next decade.
But who owns these objects? In this graphic, we utilize data from the Union of Concerned Scientists to highlight the leaders in satellite technology.
SpaceX’s Dominance in Space
SpaceX, led by Elon Musk, is unquestionably the industry leader, currently operating the largest fleet of satellites in orbit—about 50% of the global total.
The company has already completed 62 missions this year, surpassing any other company or nation, and operates thousands of internet-beaming Starlink spacecraft that provide global internet connectivity.
Starlink customers receive a small satellite dish that self-orients itself to align with Starlink’s low-Earth-orbit satellites.
|Planet Labs, Inc.||195||3%||USA|
|Spire Global Inc.||127||2%||USA|
|Iridium Communications, Inc.||75||1%||USA|
Percentages may not add to 100 due to rounding.
In second place is a lesser-known company, British OneWeb Satellites. The company, headquartered in London, counts the UK government among its investors and provides high-speed internet services to governments, businesses, and communities.
Like many other satellite operators, OneWeb relies on SpaceX to launch its satellites.
Despite Starlink’s dominance in the industry, the company is set to face intense competition in the coming years. Amazon’s Project Kuiper plans to deploy 3,236 satellites by 2029 to compete with SpaceX’s network. The first of the fleet could launch as early as 2024.
The Rise of China’s Space Program
After the top private companies, governments also own a significant portion of satellites orbiting the Earth. The U.S. remains the leader in total satellites, when adding those owned by both companies and government agencies together.
American expenditures on space programs reached $62 billion in 2022, five times more than the second one, China.
China, however, has sped up its space program over the last 20 years and currently has the highest number of satellites in orbit belonging directly to government agencies. Most of these are used for Earth observation, communications, defense, and technology development.
Satellite Demand to Rise Over the Decade
Despite the internet being taken for granted in major metropolitan areas and developed countries, one out of every three people worldwide has never used the web.
Furthermore, the increasing demand for data and the emergence of new, more cost-effective satellite technologies are expected to present significant opportunities for private space companies.
In this context, satellite demand is projected to quadruple over the next decade.
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