This week, there were 22 IPOs.
Most of which were blank check companies (SPACs) going public.
Their mission: Find promising companies, take them public, and hopefully bring big gains for those who invested.
What my investing partners and I do in The Boardroom (our investing group), is seek out and find great early-stage deal opportunities for our members to consider.
After learning about the company, if they like what they see, they have access to the deal and can invest.
Well, if you haven’t heard by now, we just invested in our biggest deal of the year!
And on Tuesday, October 27th at 8:00PM ET, we will reveal the details of this company and why we believe they are posed to take over the EV (electric vehicle) market.
According to this company’s CEO, “We fully plan on IPOing in Q3 of 2021.”
Nothing is guaranteed, but I must say, that potential is pretty thrilling.
Now in the meantime, I thought it’d be fun to look back at some of the IPOs we’ve seen so far this year.
You may have different ones on your list, but here are some that caught my attention.
A Wild Year For IPOs
This year has been a wild one when it comes to startup exits — especially IPOs.
Last year by this time the US stock market had seen just 194 IPOs. Compare that to 343 so far in 2020. The best part is, the trend isn’t slowing down, it’s keeping momentum heading into the new year.
Here are just a few of the IPOs that happened in 2020.
Unity Technologies is a cross-platform game engine. It creates tools and services for developers of interactive content like 2D, 3D, VR, and AR games, as well as simulations and other experiences. While mostly known for its use in video game development, the software is also used in the film, automotive, architecture, and engineering industries.
Unity went public on the NYSE in September. It sold for $52 per share and raised $13.7 billion.
Canoo makes electric vehicles with a subscription model. This company set out to make EVs more accessible and sensible, especially for people living in urban environments.
Starting with a “skateboard” base, different vehicles can be assembled and customized. There are four planned models, each focused on a different market — lifestyle, ride-sharing, delivery, and commuting.
Canoo went public on the NASDAQ through a reverse merger with Hennessy Capital. This deal valued Canoo at $2.4 billion and will see the startup get $600 million in funding.
Palantir was founded by Paypal co-founder and early Facebook investor, Peter Thiel. This data analysis company helps organizations spot patterns and identify threats. Its customers include the U.S. Department of Defense and the UK’s National Health Service.
Palantir went public on the NYSE at $10 per share. Through the funding raised during the IPO, the company reached a valuation of around $20 billion.
Casper sells a line of sleep products, namely mattresses, directly to consumers. By cutting out the middleman and eliminating commission-driven prices, Casper can sell high-quality mattresses for a fraction of the normal price. The startup has expanded its line to include pillows, sheets, duvets, and even dog mattresses.
At the start of 2020, Casper has its IPO on the NYSE. It raised $100 million at $12 per share.
Li Auto is another EV company that went public this year. The Beijing-based carmaker researches, designs, and manufactures its vehicles that include smart EVs and electric SUVs.
Unlike other EV carmakers, Li focuses on extended-range electric vehicles that can use either electricity or gasoline. This compensates for China’s limited EV charging infrastructure and makes Li’s vehicles an easy transition for drivers coming from gas-powered vehicles.
On July 30, 2020, Li Auto went public on the NASDAQ at a valuation of $19.2 billion. It raised $1.1 billion at $11.50 per share.
Snowflake wins the award for the biggest tech IPO this year. This is a “built-for-the-cloud” data warehouse that gives customers access to real-time data and analytics.
On the NYSE, Snowflake opened at $120 per share which later jumped up to $245. The IPO raised $3 billion, the most of any software company ever. The IPO placed Snowflake’s valuation at an incredible $70 billion.
JFrog’s flagship product, Artifactory, has changed the way developers and DevOps teams store and manage binary code. This, along with its software distribution product, Bintray, make JFrog an end-to-end, development-to-distribution platform.
The startup’s incredibly successful IPO was overshadowed by the insane performance of Snowflake that fell on the same day. JFrog opened at $77 per share, finishing strong with a new valuation of $5.7 billion.
ChargePoint is a startup we have been following for a while. This company manages the largest network of EV charging stations in the world.
By the end of 2019, the company reached a total of 100,000 charging stations worldwide. By 2025, it plans to have over 2,500,000 of them. Now with funding from the public market, ChargePoint is on track to reach that goal.
ChargePoint went public through a reverse merger with the special purpose acquisition company, Switchback Energy Acquisition. This saw the charging station giant valued at $2.4 billion. ChargePoint will now have around $683 in cash to invest in its energy solutions.
This renewable energy company makes lithium solid-state batteries that increase the driving range of electric vehicles. Backed by Bill Gates and Volkswagen, QuantumScape plans to disrupt the battery industry and push the commercialization of solid-state batteries.
QuantumScape has entered into a definitive agreement with blank check company Kensington Capital to join forces in a reverse merger. This deal will see QuantumScape go live on the NYSE at a value of $3.3 billion.
Vroom is an e-commerce platform for buying and selling used vehicles. This takes all aspects of buying and selling into one data-driven app. With Vroom, users get a large selection of vehicles, competitive pricing, and even home pick-up for their vehicle right at their fingertips.
Vroom went public and raised $467.5 million at $22 per share on the NASDAQ.
Asana offers a suite of cloud-based project management tools. These SaaS solutions allow teams to add tasks, assign them to team members, set goals for completion, communicate, and share documents. Asana’s clients include NASA, Spotify, and Uber.
Asana went into its direct-listing IPO at a valuation of $4 billion, selling shares for $27 each.
Shift4 Payments is a leader in secure payment processing solutions. This company has been private since 1994, growing over time into a global giant with eight offices across the U.S. and Europe. Today, Shift4 processes over 1 billion transactions per year, representing over $100 billion in payments.
On the NYSE, Shift4 Payments raised $345 million at $23 per share.
Xpeng is another China-based EV company. Stacked with auto industry experts from Tesla, Mercedes-Benz, Ford, and Porsche, this carmaker designs and manufactures smart EVs.
Its premium EV sedan, the P7, directly competes with the Tesla Model 3. While the Model 3 wins customers on brand and technology, the P7 is more popular with customers who value driving range and cost-to-performance.
Xpeng is now live on the NYSE. On August 27 it went public at a valuation of $8.4 billion. It raised $1.5 billion at $15 per share.
Another cloud service provider, Rackspace takes its customer’s problems and solves them using the world’s leading technologies. This “multicloud” solution covers apps, data, and security.
Rackspace raised $704 million at $21 per share in its IPO on the NASDAQ.
Lemonade offers a new way to find homeowners and renters insurance. Users communicate with an AI called Maya through the Lemonade app to qualify and shop for insurance. The app eliminates the need for brokers, streamlining and simplifying the insurance shopping process.
Lemonade raised $319 million in its IPO. The New York-based startup opened on the NYSE priced at $29 but finished the day trading for as much as $64.
The telehealth platform, Amwell, connects healthcare providers, insurers, and patients. The Boston-based startup supports all telehealth needs including acute and post-acute care, chronic care management, and healthy living, all from one platform.
In September Amwell had its IPO on the NYSE. It raised $742 million at $18 per share.
I’m revealing the EV (electric vehicle) company behind The Boardroom’s BIGGEST investment this year in a special one-time only LIVE event this Tuesday, October 27th at 8PM ET.