The previous year was full of initial public offerings across the globe, as the mega-debut of Uber dwindled, archrival Lyft (LYFT) got launched in the markets, and various other happenings occurred.
Many companies have decided to ascend from private to public markets this year, leading to a progression in the total IPOs in the market.
Unfortunately, the Coronavirus has got many companies to cancel or delay their IPOs, but there are still a few upcoming IPOs worthy of investor attention.
The IPO market has revived in recent weeks. Some major IPOs that have taken place since June 1 are Vroom (NASDAQ: VRM) and ZoomInfo Technologies (NASDAQ: ZI).
Warner Music Group (NASDAQ: WMG) made one of the largest debuts this year. The company rebounded to the public markets after nine years and gained $1.9 billion by selling 77 million shares estimated at $25 each.
Upcoming IPOs In 2020
While the pandemic undeniably has retarded the pace of the upcoming IPOs, if not halting some entirely, here is a list of the latest IPOs that might entice the investors –
In 2019, Airbnb drew some critical new hires that included an Amazon veteran to serve as their chief financial officer. This move signaled that the home-sharing matchmaker was going public soon.
This happening, paired with its procurement of last-minute booking site HotelTonight as-well-as short-term meeting-space rental platform Gaest.com, made the IPO launch look promising.
When the outbreak severely affected travel, Airbnb’s IPO became erratic. However, on August 11, 2020, reports claimed that the company was proposing to file its IPO paperwork with the SEC confidentially, hinting a 2020 IPO is still a possibility (Source).
Asana filed its S-1 with the SEC on the 24th of August this year, affirming that it would start selling its shares on the NYSE via a direct listing as soon as feasible after the active date of this registration statement.
Through a DPO, companies do not issue new shares of stock, but company insiders sell their existing stock straight to new investors, bypassing the middlemen of Wall Street.
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Shoemaker Cole Haan owns over 90 years of experience in consumer goods, withstanding the substantial part of the 20th century’s trials.
Over the last couple of years, the firm has devoted $100 million to digital innovation to stay relevant in the rapidly growing retail space.
Cole Haan’s IPO timing, however, might vary. Reports claim that it may delay its IPO as the pandemic and other aspects continue to exert downward retardation on the stock market.
Real estate brokerage firm Compass has gained popularity by pairing traditional brokerage services with ingenious technology, announcing itself as the “first modern real estate platform.”
However, Compass has more to offer than just lofty marketing speak. In 2019, it brought in artificial intelligence and machine learning company Detectica to reinforce its AI-driven home recommendation services.
Rumors about the Compass IPO date back to 2019 when CEO Robert Reffkin mentioned an upcoming IPO was likely, though the company did not execute any further official proceedings.
Compass has a job posting currently for an associate general counsel for securities, and Glassdoor employee discussions announce a “pre-IPO” excitement at the firm.
DoorDash is one of the companies that entered the spotlight during the separate lockdown periods that followed the initial outbreak.
In April 2020, DoorDash solely accounted for 45% of all food delivery transactions in the U.S., which made it the largest such service in the country, as per the reports from market intelligence firm Edison Trends.
Other competitors, namely Uber Eats and Grubhub, made up 28% and 17% of the market, respectively. DoorDash filed its Form S-1 in February 2020; however, this is the only official form filed with the SEC.
DoubleDown Interactive from South Korea develops and circulates digital social casino games and has a facility in Seattle. It filed its paperwork with the SEC to extend American depositary shares in the U.S. market in June.
The company claims that it was the first social casino publisher and is amongst the top 20 grossing mobile game publishers in the Apple Store since 2015.
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The average consumer behavior has undeniably witnessed transformations because of the pandemic.
When the people are not ordering delivery from their favorite takeout restaurant via DoorDash, they are having their staple groceries delivered from their preferred grocery stores via Instacart.
In a June 11 blog post, Instacart announced that it had encountered an unprecedented surge in customer demand for its services, causing the company to double its personnel of shoppers to about 500,000.
Following this order, Instacart raised $225 million, bringing its current valuation to $13.7 billion.
Instacart CEO Apoorva Mehta revealed in an interview with CNBC in May 2019 that he anticipates the company will ultimately prepare for an IPO but has yet to file any official paperwork with the SEC.
Palantir, a giant data analytics firm that had been valued by private investors at $20 billion, recently filed an amended S-1 with the SEC on September 3, indicating it would pursue a direct listing on the NYSE.
Palantir’s services are broad-reaching and diverse. The CIA used its technologies to locate Osama bin Laden in 2011, and it is helping the U.S. Space Force track extraterrestrial objects and the Centers for Disease Control and Prevention to monitor the spread of the Coronavirus.
The company has been accoladed with many more multimillion-dollar government contracts. Palantir revealed that it expects the IPO to take place after the SEC concludes its review process.
Major online brokers largely eliminated stock-trading commissions last year, which might have mitigated the appeal of free-trading app Robinhood.
However, the app continues to add users in substantial amounts, and CEO Baiju Bhatt has claimed that the company, with an estimated worth of $7.5 billion, intends to go public.
Robinhood has not yet produced a timeline or public filing, and given its slew of recent app outages during critical market moves, the further motives of the company are still ambiguous.
Frank Slootman, the CEO of cloud-based data storage and analytics firm Snowflake, announced to take his platform public back in 2019, but it was not until August 24, 2020, that the firm officially filed its IPO paperwork with the SEC.
On September 8, Snowflake announced it would offer 28 million shares priced between $75 and $85 a share, pursuing to raise as much as $2.38 billion.
Many companies have been hit because of the Coronavirus pandemic; however, some firms remain confident about launching their IPOs in the last quarter of 2020.
Investors can significantly benefit from these upcoming IPOs with more markets to explore and try out. Most of them have filed their paperwork with the SEC, while some are yet to make their official move.
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