6 Upcoming IPOs to Watch
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It's been a busy couple of years for the initial public offering market, and that momentum shows little sign of slowing, despite 2022's early stock market volatility. Many heavy hitters and startup companies are expected to IPO this year — the below list of upcoming IPOs is a small slice of that market.
Financial advisors often suggest investing for long-term growth. So, if you “miss out” on an IPO listed below, don’t fret. If it’s a solid business and you’ve got a long-term growth mindset, you don’t have to be first in line to buy. (Need more context? Learn more about IPOs and how they work.)
Most of the time, you won't be able to buy a company's stock at its IPO price. Instead, you'll have to wait until it trades publicly on the stock market. But brokerages are increasingly offering IPO access. » View the best brokers for investing in IPOs.
6 Upcoming IPOs
1. Chime
Chime offers banking services but isn't itself a bank. Instead, the company partners with two banks to offer checking and savings accounts with no overdraft or monthly fees. The company reportedly has a $25 billion valuation after closing a round of funding in 2021.
In January 2022, Reuters reported that Chime had lined up Goldman Sachs to help it prepare to go public, a report that Chime disputed. Subsequent reports in other news outlets said the company decided to delay its IPO amid market volatility.
2. DataBricks
DataBricks may not be a household name, but the software the company has created is used by Microsoft (also an investor), HP, Comcast and Regeneron Pharmaceuticals, just to name a few. DataBricks claims to “make big data simple” by streamlining the tools used to analyze that data.
News broke of the company’s potential IPO in October 2020, when reports showed the company was in the early stages of discussing going public. An IPO could come in 2022.
3. Discord
Discord was founded to help people communicate while playing video games. But the company has rapidly grown into much more, with over 100 million users connecting virtually via voice, video and text chat. The platform allows users to form invitation-only groups where they can listen to music together, screen share, study or discuss topics of interest.
According to Crunchbase, the company has raised over $900 million in 15 funding rounds. It is widely expected to IPO this year, though it hasn't made any plans public.
4. Instacart
The pandemic undoubtedly reshaped consumer behavior. When Americans weren't ordering delivery from their favorite takeout restaurants via DoorDash, they were getting their staple groceries delivered from their favorite grocery stores via Instacart.
Instacart has hundreds of national and local retailers on its platform, offering the ability to have everything from medications to office supplies delivered to consumer doorsteps. The company raised $265 million in funding in March 2021, bringing its total valuation to $39 million.
5. Reddit
The powerful online forum confidentially filed its Form S-1 with the SEC in December 2021, making its intention to go public official. The press release announcing the filing disclosed little information and didn't reveal how many shares the company plans to sell or an expected valuation. Reddit was last valued at more than $10 billion during a funding round in 2021.
6. Stripe
Online payments giant Stripe may be the most-anticipated IPO of the year, especially after the company posted tremendous growth during the pandemic. Companies such as Instacart, Shopify, Google, Amazon and Lyft use Stripe's software to process payments, and the company says 90% of U.S. adults have made a purchase from a business that uses Stripe.
Stripe's most recent round of funding in 2021 raised $600 million, putting the company at a $95 billion valuation.
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Recent IPOs: How did they do?
Airbnb (ABNB)
As many had expected, Airbnb’s IPO made headlines on its first day of trading, Dec. 10, 2020. Shares were priced in the IPO at $68, but in its debut on the public market, Airbnb started trading at $146 — a 115% leap. The stock briefly hit a high of $165 before closing slightly down at $144.71.
Albertsons (ACI)
Albertsons was listed on the New York Stock Exchange on June 26, 2020, at an offering price of $16 per share, but finished its first day of trading down at $15.45 per share. This lackluster debut came after the company lowered its initial offering price of $18-$20 per share.
Asana (ASAN)
Asana went public through a direct listing and began trading Sept. 30, 2020, with shares priced at $27 — nearly 30% higher than the reference price of $21 set by the New York Stock Exchange. The stock rose even higher on its first day of trading, closing at $28.80 per share.
Beyond Meat, Inc. (BYND)
Talk about a first-day IPO pop: The share price of the plant-based meat company nearly tripled in its initial day of trading in May 2019, making it one of the best-performing IPOs for a company its size since 2000.
Bumble (BMBL)
Dating app Bumble began trading on the Nasdaq stock exchange on Feb. 10, 2021, and while its share price briefly hit a high above $80 in the days following the IPO, it has traded lower since.
Chewy (CHWY)
This e-tailer, focused solely on pet products, debuted on the New York Stock Exchange on June 14, 2019, at an offering price of $22 and closed the day at $34.99, a share price increase of 59%. The company is an independent subsidiary of PetSmart, Inc., which remains a majority stockholder after the IPO.
Coinbase (COIN)
Coinbase has emerged as a user-friendly way to trade cryptocurrencies, distilling what was once a collection of highly complicated tasks into a streamlined, in-app service. Users can buy cryptocurrencies in fiat money or trade their holdings in one cryptocurrency for another. Coinbase’s shares started trading on the Nasdaq on April 14, 2021, and closed below the opening price of $381 at $328.28. Since the IPO, COIN stock has traded mostly below its first few days on the market.
Compass (COMP)
Real estate brokerage Compass has made a name for itself by pairing traditional brokerage services with innovative technology, billing itself as the “first modern real estate platform.” But Compass offers more than just lofty marketing speak. In 2019, it acquired artificial intelligence and machine learning company Detectica to further enhance its AI-driven home recommendation services.
Compass went public April 1, 2021, and although its shares were priced at $18, the stock opened the day at $21.25.
CrowdStrike Holdings (CRWD)
CrowdStrike is the company that investigated the hack of Democratic National Committee servers in 2016, as well as other high-profile breaches. True to its name, the company uses crowdsourcing systems (along with artificial intelligence and other means) to identify threats and zero in on perpetrators.
The company started trading June 12, 2019, at $34, and shares nearly doubled at one point during the first trading day, eventually closing up 71% from the offering price.
DoorDash (DASH)
When DoorDash priced its shares at $102, it meant the company expected to raise about $3.4 billion to achieve a valuation of about $39 billion. But when shares hit the New York Stock Exchange on Dec. 9, 2020, the stock opened at $182, rose throughout the day, and closed at $189.51. By the end of its first day on Wall Street, the market valued DoorDash at about $60.2 billion.
Fiverr International Ltd. (FVRR)
Rideshare services weren’t the only gig-economy companies that debuted in 2019. Fiverr’s online marketplace connects companies looking to hire out jobs (or “buyers,” in Fiverr lingo) with freelancers (“sellers”). The Tel Aviv, Israel-based company says it has facilitated more than 50 million transactions since its inception. Fiverr’s June 2019 IPO price was set at $21 per share; it eventually closed up 90%, at $39.90.
Lyft (LYFT)
Rideshare company Lyft beat rival Uber to an IPO when it pulled onto the public market in March 2019 at a price of $72 a share. Since then the ride has been mostly downhill, with Lyft shares trading below the IPO price.
Palantir (PLTR)
Palantir’s stock debuted on the NYSE the same day as Asana on Sept. 30, 2020, at $10 per share. This was 38% higher than its IPO price of $7.25.
Palantir’s services are wide-reaching and profound. The CIA used its technologies to help locate Osama bin Laden in 2011, it’s helping the U.S. Space Force track extraterrestrial objects and the Centers for Disease Control and Prevention is using it to monitor the spread of COVID-19. The company has won many more multimillion-dollar government contracts.
Peet’s Coffee and Tea (JDEP)
Despite the rocky markets, Peet’s Coffee and Tea parent company, JDE Peet’s, went public May 29, 2020, and raised 2.3 billion euros ($2.5 billion), making it the largest European IPO in 2020. Shares were priced at 31.50 euros and traded slightly higher in the days following.
Peloton (PTON)
Fitness company Peloton went public Sept. 26, 2019, at an IPO price of $29 and fell 11% during trading. The startup aims to make working out at home a “viable, exciting option,” with screen-equipped stationary bikes and treadmills that play a variety of live and on-demand group fitness classes.
Petco (WOOF)
Petco, which trades under the highly apropos ticker WOOF, began trading on the Nasdaq stock exchange Jan. 14, 2021, with an opening price of $26.25, rising to close the day at $29.40.
Robinhood (HOOD)
Robinhood went public July 29, 2021, at $38 per share under the ticker HOOD. The stock's price popped in the first few days, climbing over $55.
Rocket Companies, Inc. (RKT)
Rocket Companies, which includes Quicken Loans and Amrock, Inc., priced its shares at $18 and began trading on the NYSE on Aug. 6, 2020. By close on its first day of trading, the stock rose 19.5% to $21.51.
Slack (WORK)
Workplace collaboration service Slack also performed a direct-market listing on June 20, 2019. Slack’s reference price was $26, and the company opened at $38.50.
Snowflake (SNOW)
When cloud-based data storage and analytics firm Snowflake began trading Sept. 16, 2020, its shares more than doubled, making it the largest software IPO in history. Shares were priced at $120 the night before trading began, but opened at $245, hitting a high of $319 before ending the day at $253.93 per share.
Uber (UBER)
With a valuation of $82 billion, rideshare app Uber was one of the biggest tech IPOs ever and one of the most hotly anticipated offerings of 2019. But following the sputtering market debut of archrival Lyft, Uber went public in May 2019 at a lower-than-anticipated price of $45.
Vroom (VRM)
Online used-car marketplace Vroom submitted its initial plans to go public May 18, 2020, in hopes of raising $100 million. The filing came just six months after the company raised $254 million in December 2019, raising its valuation to unicorn status at $1.5 billion.
Vroom priced its shares at $22, and on its first day of trading, the stock more than doubled, closing at $47.90.
Warner Music Group (WMG)
As the third-largest record label in the world, Warner’s S-1 filing in early February 2020 commanded attention. Warner Music Group opened up to public trading June 3, 2020, at $27 per share, above the IPO price of $25. The stock climbed to $30.12 by the day’s close, an 11.6% increase.
Zoom (ZM)
Zoom, the cloud-based videoconferencing company, didn’t attract as much attention as other tech IPOs in the famed Class of 2019 when it went public in April of that year, despite being one of the few profitable companies on the roster. But investors quickly started taking Zoom’s calls: The stock popped 80% on its first day of trading.
ZoomInfo (ZI)
Not to be confused with videoconferencing software company Zoom (ZM), ZoomInfo pressed forward with its IPO on June 4, 2020, despite market uncertainty. The company, which offers market intelligence to sales and marketing teams, initially priced its shares between $16 and $18, but ultimately raised this price several times in the days leading up to its first day of trading, settling at $21. The stock opened at $40, nearly double the offering price.
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IPO day is just one day in the life a public company, and initial performance isn't an indication of long-term results. That’s the very nature of IPOs. Explore the calculator below to see how well you would have fared had you invested in the IPOs of these companies (or check out NerdWallet's investment calculator for a more general look at investment growth).
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