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Summary
- North American markets are set to witness a fresh host of companies going public in 2021.
- The top estimated IPOs include Robinhood, Roblox Corporation, Coinbase, Bumble, etc.
- Year 2020 saw major public listings in North America, including those of Snowflake, Nuvei Corporation, Airbnb Inc, DoorDash Inc, etc.
North America saw a deluge of initial public offerings (IPO) in the latter half of 2020 after the markets rebounded from the pandemic-inflicted shock to a certain extent. The major public listings included cloud-based tech firm Snowflake (NYSE:SNOW) and fin tech app Nuvei Corporation (TSX:NVEI) in September, and those of rental provider Airbnb Inc (NASDAQ:ABNB) and food delivery app DoorDash Inc (NASDAQ:DASH) around December.
But the IPO fever is not down yet. Canadian and US markets are set to witness a fresh host of companies going public in 2021. Here’s a highlight of all the IPOs to watch out for this year.
Image source: ©Kalkine Group 2021
1. Robinhood Markets Inc
IPO Expected In: Early 2021
Founded in 2013, the brokerage app’s customer base jumped past 13 million last year, with an addition of about three million new users in the first four months itself. It was estimated to have a valuation of about US$ 11.7 billion in September.
Robinhood Markets has been in the eye of the storm regarding its brokering conducts. After facing a US$ 65 million lawsuit from the SEC on the charges of misinformation earlier in 2020, the company also saw the Massachusetts securities regulators file an administrative complaint against it.
2. Bumble
IPO Expected In: February 2021
Though Bumble has not made any information regarding it public yet, sources quoted by media reports said that the company is likely to launch its IPO public around Valentine’s Day.
The women-oriented dating app reportedly hit over 100 million users last year. Supported by the Blackstone Group Inc, Bumble is eyeing a valuation of US$ 6 billion to US$ 8 billion in its IPO.
3. Roblox Corporation
IPO Expected In: February 2021
Online game maker Roblox Corporation reported scoring over 31.1 million daily active users (DAUs) in across more than 180 countries, up about 82 per cent year-over-year (YoY). Its users also invested some 22.2 billion hours playing its games in the first nine months of 2020.
Roblox’s revenues also climbed 68 per cent YoY to US$ 588.7 million in the nine months ending September 2020. The company is expected to hit a valuation of US$ 8 billion in its IPO.
4. Coinbase
IPO Expected In: February 2021
The top cryptocurrency exchanges in the US, Coinbase reportedly filed a confidential draft registration statement for an IPO recently. The company posted having more than 35 million investors in over 100 countries around the world.
Founded in 2012, the cryptocurrency exchange has reportedly traded more than US$ 320 billion in volume so far and has a total of US$ 25 billion worth of assets on the platform.
Projected to be one of the hottest IPOs of 2021, Coinbase is expected to hit a valuation of over US$ 8 billion.
5. Affirm
IPO Expected In: Early 2021
Founded by Ukraine-born American entrepreneur Max Levchin in 2013, Affirm reportedly has a customer base of over 5.6 million users. The fin tech platform includes merchants such as Walmart (NYSE:WMT), Wayfair (NYSE:W), etc.
Affirm has raised about US$ 800 million to date, even procuring funding from actor Ashton Kutcher. The company posted a 93 per cent YoY rise in its revenues of US$ 509.5 million in fiscal 2020.
Other major companies that are expected to go public in 2021 include Reddit, tech-driven health insurance firm Oscar Health Quora, tech company ThoughtSpot, etc.
