As predicted, 2019 has proven itself to be an influential year when it comes to companies going public. A significant number of unicorns (companies valued at more than $1 billion) have gone public to mixed results; though some have seen great early success, others have fallen somewhat short. The IPOs highlighted below are just a sample of some of the most influential public offerings of 2019 so far.
One of the most highly anticipated IPOs, the ridesharing app Uber went public more than a month ago. Prior to going public, its shares were priced at a whopping $45, but this number quickly dipped closer to $30. Over the course of a few weeks, the price rose yet again but failed to reach its initial valuation by the time normal trading concluded. When closed at the end of May, it had earned roughly $67 billion; this number is impressive but still falls short of its valuation as well as its previous round of private funding.
Uber’s competitor, Lyft, also went public, doing so before Uber to get an advantage; Lyft was among the first unicorn IPO to launch in 2019, doing so at the end of the first quarter. In spite of the potential advantages, the ridesharing app did not earn quite as much as Uber. Still, share prices were initially valued and ultimately sold for a higher per capita price than Uber’s shares. Initially priced at $72 a share and dipping to just below $50 each, Lyft’s shares earned the app more than $15 billion, rising above its last round of private funding but not yet reaching its market cap of $20.6 billion.
Believed to be one of the best performing IPOs so far this year, Beyond Meat is a revolutionary company that crafts plant-based proteins that share the taste, texture, and more of animal-derived meats. Though its shares were initially priced at $25, this price rapidly rose to nearly $70 each share. Beyond Meat went public on May 1, and by the end of May, it had gained 244%. Compared to ridesharing apps Lyft and Uber, which lost 21% and 9% respectively, Beyond Meat’s performance is certainly noteworthy.
Other notable IPOs that have gone public this year include social media platform Pinterest, fashion company Levi Strauss, and electronic trading platform Tradeweb. We are not quite halfway through the year, so whether the existing IPOs will continue to see success remains to be seen.