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With the market for initial public offerings (IPO) seeing much interest among investors, many technology enthusiasts are seeking the right opportunity to invest in a tech player’s public listing.
With that in mind, let’s explore some upcoming IPOs that are likely to take place in the tech sector soon.
1. Robinhood Financial LLC
Robinhood Financials is one of the most anticipated public listings investors are looking forward to in 2021. The application, through its free stock trading feature, has been one of the tech-based financial services disruptors.
The stock brokerage startup raised about US$ 2.4 billion in February 2021 in a funding round led by Ribbit Capital, as per Crunchbase. Its total funding amount, raised in 24 rounds of funding, amounts to nearly US$ 6 billion.
The company is currently backed by investors such as Sequoia Capital and Andreessen Horowitz.
The California-based stock trading application is reportedly valued at about US$ 12 billion. Its listing is expected to push its valuation by about three times.
The date for its IPO, however, has not been announced yet. Reports suggest that it may be launched in the coming months of 2021.
2. Taboola Inc
Advertising content recommendation company Taboola Inc plans to go public via a reverse merger with special purpose acquisition company (SPAC) IOC Acquisition Corp in January 2021. The New York-based firm announced in May 2021 that it has filed its registration statement with the US Securities and Exchange Commission (SEC).
The transaction is reportedly set to bring Taboola about US$ 545 million in cash and value the company at US$ 2.6 billion.
While IOC Acquisition’s shares trade on the New York Stock Exchange (NYSE) under the symbol of ‘IACA’ at the moment, Taboola intends to put its stocks up on NASDAQ under the ticker TBLA.
The deal is expected to be completed by the second half of this year.
In the first quarter ending 31 March 2021, Taboola posted net revenues of about US$ 303 million.
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3. Couchbase Inc
Couchbase, which helps customers manage their web and mobile application database via its cloud database service NoSQL, raised about US$ 105 million in its latest round of funding in May, as per Crunchbase data.
While Couchbase is yet to make an announcement, reports quoting sources pointed that the company has confidentially filed for an IPO and it is expected to be launched in the first half of 2021.
The IPO is expected to bring Couchbase’s valuation to about US$ 3 billion, as per reports.
4. NerdWallet Inc
NerdWallet Inc is another fintech player expected to go public by the end of this year. The tech-based personal finance startup is said to have confidentially filed for an IPO, as per reports.
The San Francisco-based firm is said to have hired Morgan Stanley as one of the lead managers of the IPO. The company’s valuation is likely to touch a US$ 5 billion-mark post IPO, sources close to the matter have told reports.
According to Crunchbase, NerdWallet has raised a total of US$ 105 million in fundings so far.
The above constitutes a preliminary view and any interest in stocks should be evaluated further from investment point of view.
