Biggest tech IPOs of 2021


The 2020 calendar year will long be remembered as an annus horribilis for most, except for a handful of technology companies who reaped the rewards of a global shift to remote work with  successful initial public offerings (IPOs).

US companies alone raised a record $435 billion in stock sales in 2020, with more than a quarter of that figure coming from IPOs — far outstripping 2014’s mark of $279 billion, according to data compiled by Bloomberg. The vast majority of those new listings defined themselves as technology companies.

Cloud-based software firms like Zoom, Snowflake, Asana, Airbnb and Palantir all performed particularly well, and continue to see their stock price flourish as remote work and e-commerce continue to be the norm for many into 2021.

The question now is whether this trend will continue through the year. There are a host of companies eying an early debut in 2021 to take advantage of favorable conditions. But, as with all market debuts, timing will be everything, with a number of industry analysts increasingly warning of a bubble.

Here are the biggest technology IPOs of the year so far.

DigitalOcean

DigitalOcean had a disappointing float on the New York Stock Exchange on March 24, with its stock sinking 9.6% on its first day. The New York-based cloud firm initially priced its IPO at $47, which was on the top end of the expected range of $44 to $47. It closed its first day at $42.50 a share, valuing the company at $4.5 billion.

Copyright © 2021 IDG Communications, Inc.



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