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Tech IPOs class of 2018 weren't such a hot batch

IPOs this year included Dropbox, Spotify, SurveyMonkey and DocuSign

Financial trends and news by Steven Loeb
December 26, 2018
Short URL: http://vator.tv/n/4cef

After a few down years, the IPO market came roaring back in 2018. Through the first three quarters of the year, there were 173 public offerings this year, putting it on pace to easily surpass the 181 IPOs throughout all of 2017. Suddenly, it's a good time to enter the market again. 

Technology, media and telecom IPOs did particularly well in Q3, with 15 offerings that raised $4.3 billion. For comparison, the same quarter in 2017 saw just three IPOs that raised $0.7 billion.

There were a slew of big names that went public this year in technology, such as Dropbox, DocuSign and Spotify, which has set the stage for a 2019 that is going to see companies like Uber, Lyft, Slack and Airbnb possibly finally making their debut. 

Despite all of that, 2018 wasn't easy on some tech stocks, or on the market in general. The Dow Jones is down over 9 percent year-to-date, while the Nasdaq has fallen nearly 7 percent. Even some of the biggest established tech companies have been hit this year: Facebook is down 25 percent, Apple is down 9 percent and Alphabet is down 3 percent. Of course, some companies have done well, like Amazon, which is up over 25 percent, and Twitter, which has seen its stock rise nearly 17 percent since the start of the year. 

Of the companies that debuted this year, a few have been able to rise above where they debuted on the market, but many haven't fared too well since their IPOs:

  • IPO date: April 27
  • IPO price: $15
  • Amount raised in IPO: $150 million
  • Opening price: $18.40, up 23 percent
  • Closing price: $19.55, up 6.5 percent
  • IPO valuation (after close of first day): $2 billion
  • Current price: $24.90, up 35 percent
  • Current valuation: (SMAR) $2.6 billion

 

  • IPO date: October 12
  • IPO price: $17
  • Amount raised in IPO: $263.5 million
  • Opening price: $24.25, up 43 percent
  • Closing price: $24.3 million, up. 0.2 percent
  • IPO valuation (after close of first day): $3 billion
  • Current price: $26.24, up 8.2 percent
  • Current valuation: (PLAN) $3.3 billion

 

Image result for Pluralsight

  • IPO date: May 17
  • IPO price: $15
  • Amount raised in IPO: $310.5 million
  • Opening price: $20, up 33 percent
  • Closing price: $20, flat
  • IPO valuation (after close of first day): $2.64 billion
  • Current price: $21.56, up 8 percent 
  • Current valuation: (PS) $2.9 billion

 

Image result for docusign logo

  • IPO date: April 27
  • IPO price: $29
  • Amount raised in IPO: $629 million
  • Opening price: $38, up 31 percent
  • Closing price: $39.73, up 4.5 percent
  • IPO valuation (after close of first day): $6 billion
  • Current price: $39.65, down 0.2 percent
  • Current valuation: (DOCU) $6.6 billion

 

  • IPO date: April 12
  • IPO price: $14
  • Amount raised in IPO: $154 million 
  • Opening price: $20, up 43 percent
  • Closing price: $20, flat
  • IPO valuation (after close of first day): $2.1 billion
  • Current price: $17.81, down 11 percent
  • Current valuation: (ZUO) $1.9 billion

Image result for eventbrite logo

  • IPO date: September 19
  • IPO price: $23
  • Amount raised in IPO: $230 million
  • Opening price: $36, up 57 percent
  • Closing price: $36.50, up 1.4 percent
  • IPO valuation (after close of first day): $2.8 billion
  • Current price: $28.70, down 20 percent
  • Current valuation: (EB) $2.2 billion

 

Image result for upwork logo

  • IPO date: October 2
  • IPO price: $15
  • Amount raised in IPO: $187 million
  • Opening price: $23, up 53 percent
  • Closing price: $21.18, down 8 percent
  • IPO valuation (after close of first day): $2.1 billion
  • Current price: $17.62, down 23 percent
  • Current valuation: (UPWK) $1.9 billion

 

Image result for dropbox

  • IPO date: March 23
  • IPO price: $21
  • Amount raised in IPO: $756 million
  • Opening price: $29, up 40 percent 
  • Closing price: $28.48, down 1.8 percent
  • IPO valuation (after close of first day): $12.54 billion
  • Current price: $20.76, down 28 percent
  • Current valuation: (DBX): $8.4 billion  

 

Image result for spotify

  • IPO date: April 3
  • IPO price: $132
  • Amount raised in IPO: $0
  • Opening price: $165.90, up 26 percent
  • Closing price: $149.01, down 10 percent
  • IPO valuation (after close of first day): $30 billion
  • Current price: $114.05, down 31 percent
  • Current valuation: (SPOT) $20.7 billion

 

  • IPO date: September 26
  • IPO price: $12
  • Amount raised in IPO: $180 million
  • Opening price: $18.75, up 56 percent
  • Closing price: $17, down 9.3 percent
  • IPO valuation (after close of first day): $2 billion
  • Current price: $11.34, down 39.5 percent
  • Current valuation: (SVMK) $1.4 billion

(Image source: pymnts.com)


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