According to The Information (via newsletter), there were 14 tech IPOs above $1 billion based on data compiled by Thomson Reuters. The list did not include Spotify which was excluded because of its use of direct listing and technically did not raise any new capital. Also, big entities like Dropbox which did not make the $1 billion mark were also excluded.
In 2017, only five tech IPOs raised more than $1 billion. During the dot-com boom in 1999, seven did.
The number swelled because there are more mature tech companies with actual businesses than ever before. Yet you may have missed the group raising more than a billion because the vast majority involved companies that aren’t based in the U.S. Seven— including Xiaomi and Meituan Dianping—were based in Asia Pacific. Another handful were European—luxury e-commerce company FarFetch and payment company Adyen, among them. Latin America had PagSeguro and StoneCo, both payment companies. Only one U.S. company—fintech company GreenSky—made the group.
Here’s the full list, including where they were listed. (As for listings, the U.S. was the clear winner as the U.S. equity markets continue to outperform, relatively speaking.) (source: The Information newsletter)
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