The $150 billion raised by IPOs in 2020 was the best since the dot-com boom era. Data from PricewaterhouseCoopers shows companies raised money through 183 traditional IPOs and over 240 SPACs in 2020…
Here is a look at 10 companies expected to IPO in 2021.
The company was founded by Max Levchin, the co-founder of Paypal Holdings PYPL 1.83%. Affirm helps 6,500 merchants and 6.2 million customers pay for goods online without a credit card.
Affirm had gross merchandise volume of $4.6 billion in fiscal 2020, which was up 77% year-over-year. In the first quarter of the current fiscal year, Affirm had revenue of $174 million, which was up 98% year-over-year.
Bumble: Dating app Bumble has filed for an IPO. Reports now say the IPO could come around Valentine’s Day in 2021.
The company could be valued at between $6 and $8 billion. Bumble was launched by Tinder co-founder Whitney Wolfe Herd.
Bumble is different from many dating apps as it only allows women to make the first move. The app has over 100 million registered users and has seen the number of users grow more than 250% in the last two years.
Blackstone Group BX 1.07% is the major backer of Bumble.
Related Link: 10 Of 2020’s Top Performing IPOs
Coinbase: With Bitcoin prices at all-time highs and cryptocurrency a trending topic of 2020, Coinbase has announced plans to IPO. This would mark the first major U.S. cryptocurrency exchange to go public and could be a landmark victory in making cryptocurrency more mainstream.
The company last raised funds in 2018 at an $8 billion valuation. The company has considered a direct listing, been a rumored IPO and been linked to SPACs throughout 2020.
Coinbase could be valued at more than $20 billion with its 2021 IPO. One of the early investors of the company was Banco Bilbao Vizcaya BBVA 5.88%, which began investing back in 2015 when the company was valued at $400 million.
Instacart: Grocery delivery company Instacart is considering a 2021 IPO. The IPO could value the company at $30 billion.
Earlier in 2020, Instacart was valued at $17.7 billion in its last funding round.
Business has boomed for Instacart during the COVID-19 pandemic, similar to DoorDash.
Petco: A rise in pet ownership is expected to to be another consequence of the pandemic, and accordingly former publicly traded pet retailer Petco NASDAQWOOF plans to IPO in 2021.
The number of households with pets was expected to rise 4% in 2020, according to the IPO filing. This could lead to an additional $4 billion added to the pet care market.
Same store sales for Petco were up 9.6% in 2020. Sales increased 9% to $3.6 billion for the first 10 months of 2020. The company has narrowed its net losses compared to 2018 and 2019.
The company has worked on expanding its ecommerce offerings. Rival Chewy Inc CHWY 0.58% did well in 2020 with its share price up more than 250% and a $40 billion valuation. Barkbox, a monthly subscription service tailored to dogs, is also going public via SPAC Northern Star Acquisition Corp STIC 4.98%.
Poshmark: Clothing reseller Poshmark has filed for an IPO that is expected in 2021.
The company had 31.7 million active users as of September, including 6.2 million active buyers. In 2019, users spent an average of 27 minutes on the platform. The company counts 80% of its users as part of the millenials and Generation Z age groups.
The company saw revenue increase 28% year-over-year in the first nine months of 2020 to $192.8 million. The company also turned a profit in the second and third quarters of 2020. In 2019, the company had a net loss of $48.7 million.
Robinhood: Trading platform Robinhood is seeking advisers for a potential 2021 IPO. The company was one of the first to offer zero commission trading and has seen users increase during the pandemic.
The valuation of Robinhood is…
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