Top IPOs to keep an eye on this year

Highlights

  • Warby Parker Inc. has applied for an NYSE listing with the ticker name WRBY. It has a total of 77,741,942 shares of Class A common stock on offer.
  • Amplitude, Inc. is offering 35,398,389 shares of Class A common stock. It applied for a NASDAQ Global Select listing with the ticker symbol AMPL.
  • Rivian had filed for IPO with the Security and Exchange Commission confidentially in August this year. The company seeks a valuation of around US$80 billion in the IPO.

This year saw a flurry of initial public offerings (IPO). While the IPO rush continues in the US, September alone saw more than 40 public offerings. In addition, over 700 IPOs were launched this year, and many are in the pipeline for the remaining period of 2021.

Here we discuss five IPOs that are expected this year.

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Warby Parker Inc. (WRBY)

The company has applied for an NYSE listing with the ticker name WRBY. It has a total of 77,741,942 shares of Class A common stock on offer. The company has chosen a direct listing mode instead of book building by underwriters, so there are no additional shares for the underwriters.

Top IPOs to keep an eye on this year

Warby, founded in New York 2010, has a total of 2759 employees as of June 30, 2021. Warby provides designer eyeglasses and contact lenses at a reasonable price online and at stores.

As of June 30, 2021, the company had 145 stores and 2.08 million active customers. Its IPO has been pending since last year, but it is expected to come this month. However, the share price hasn’t been fixed yet as there are no underwriters involved in the IPO.

The company has applied for IPO on August 24.  

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Top IPOs to watch: Warby Parker Inc. (WRBY), Amplitude, Inc. (AMPL), and Rivian)

Source: Pixabay

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Amplitude, Inc. (AMPL)

The company is offering 35,398,389 shares of Class A common stock. It has applied for a NASDAQ Global Select listing under the ticker name AMPL. The company plans to take the direct listing mode for the IPO.

Amplitude is a technology company based in California and provides its Digital Optimization software to connect digital products and services to enhance business performance.

The company had 490 employees and 1,280 paying customers as of June 30, 2021. For the six months ended June 30, 2021, its revenue was US$72.36 million, and net loss per share diluted was US$(0.57). It applied for the IPO on August 30, 2021.

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Rivian

Rivian’s IPO has been eagerly awaited. The company had confidentially filed for IPO with the Security and Exchange Commission in August this year, and speculation is rife that the IPO might come in the next month.

The electric vehicle maker already has orders from Amazon and Ford. The company is currently planning the delivery of its pickup truck R1T and sport utility vehicle R1S. Rivian will deliver some 100,000 commercial delivery vans to the global eCommerce giant.

The company, based in Plymouth, Michigan, seeks a valuation of around US$80 billion in the IPO. It has already raised US$8 billion from investors in various funding rounds.

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Top two IPOs to watch: iFit Health and Fitness, and Allbirds Inc.

Source Pixabay

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iFit Health & Fitness Inc (IFIT)

The company, based in Logan Utah, wants to raise about US$100 million from its Class A common stock offer. It has not declared the number of shares or the price yet. The company has applied for a NASDAQ Global Select listing with the ticker name IFIT.

iFit health is a health and fitness subscription technology company, and it had 2500 employees as of May 31, 2021. It also provides fitness equipment in the US. The company uses biometric data to monitor real-time fitness sessions and give an interactive experience to its customers.

It has generated revenue of US$1,745.1 million in fiscal 2021, a 104.9% increase YoY. Its net loss was US$516.7 million in the same period.

The company has a presence in 120 countries. It has over 6.1 million members and more than 1.5 million interactive fitness subscribers as per the filing with SEC.

The company filed for an IPO on August 30, and it is expected this year.

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Allbirds, Inc. (BIRD)

This San Fransisco-headquartered company has applied for a NASDAQ listing under the ticker name BIRD. The company wants to offer shares worth around US$100 million.

Allbirds is a lifestyle brand that is climate-conscious. It makes footwear and apparel from natural or environment-friendly materials. The San Francisco, California-based company had 546 employees as of June 30, 2021.

The company was founded in 2014. It had 27 company-operated stores in 35 countries, with a reach of 2.5 billion customers. Its revenue had increased to US$219.3 million in 2020, reflecting a compound annual growth rate of 31.9%. Its net loss was US$25.9 million in FY 2020.

It filed for an IPO on August 31. It is expected next month.

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Bottomline

This year saw several major IPOs in the US, including South Korean eCommerce company Coupang and Chinese ride-hailing firm DiDi Global. Investors look to invest in IPOs because the stocks are relatively cheaper during their market debut. However, investors must carefully evaluate the companies before investing.

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