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Year-End IPO Rush

Year-End IPO Rush
November 24, 2020

The Daily Stack is a daily market insight newsletter by PrivCo, a private market intelligence platform. Read our previous insights.
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There are only a few weeks left in 2020 and in the last few days, there has been a notable number of private companies rushing to file to go public before the year ends. In a normal year, the early winter months are generally calmer as deals slow down but as well all know, 2020 has been far from normal. With COVID-19 derailing company IPO plans in spring and early summer, we are seeing a record-breaking rush for IPOs as companies take advantage of the post-election rally in stock prices as well as investor confidence in tech brands.


Photo by Aditya Vyas on Unsplash

  • In September, many tech startups filed to go public, notably Unity, Snowflake, Palantir, and Asana.
  • The highly anticipated IPO of Airbnb is finally on its path as they filed their S-1 with the Securities and Exchange Commission. Although the pandemic had threatened the company’s business model, it quickly recovered by marketing rural socially distant home rentals and maintains a $30BN valuation.
  • Food delivery service DoorDash also shed light on its success as a result of the pandemic in its IPO filing reporting an accumulated Q3 growth of $1.9BN sales compared to $587MM in the first nine months of 2019. 
  • Video game company Roblox is a big winner from the pandemic, thriving in popularity for its online games as everyone was forced to stay at home. Their games have also been popular in spurring online education, as we share in our in-depth report on K1-12 learning shifts. Their filing shows their Q3 revenue jumped by 91%.
  • Fintech company Affirm, a company that offers online installment loans allowing you to pay later at their partnering merchants, filed for IPO last week. Its filing revealed its revenue has grown 98% YOY.
  • Online marketplace Wish was the latest company to file for an IPO last week showing slow but rising revenue. Although the company was hard hit by the pandemic as its supply and logistics was crippled, its filing reveals it is continually closing its gap on net losses while ramping up over 100 million monthly active users in over 100 countries.
Target and Kohl’s bets on beauty
Target announces a partnership with Ulta Beauty as Kohl’s also plans collaborations with smaller indie brands. Both expect the beauty lines to grow midst department stores losing out.
[Read more]
A look at Roblox in China
Roblox launched a joint venture with Tencent to expand in China in 2019. How is it panning out and what are the challenges? 
[Read more]
Since last week, PrivCo has added:
1553 Companies | 159 Funding Activities | 102 M&A Deals

Funding & Deal Highlights:

Gojek raises $150MM from Telkomsel 
Delivery Software & Internet Services • Equity • Indonesia

Paddle raises $68MM led by FTV capital
SaaS Software & Internet Services • Round C • London, UK

Yubo raises $47.5MM from multiple investors
Social Media Software & Internet Services • Round C • Paris, France

ZenBusiness raises $55MM led by Cathay Innovations
SaaS Software & Internet Services • Round B • Chicago, IL

Satispay raises €93MM led by Square, Tencent, and LGT Lighthouse
Software & Internet Services • Round C • Milan, Italy 

SellerX raises €100MM co-led by Cherry Ventures, Felix Capital, and TriplePoint Capital
Business Support Services • Seed • Berlin, Germany 

CAIS raises $50MM from Eldridge Industries
Investment Management Software & Internet Services • Round B • New York, NY 

Flyreel receives $10MM led by IA Group
Insurance Services • Round A • Denver, CO 

Aclima raises $40MM led by Clearvision Ventures
Software & Internet Services • Round B • San Francisco, CA 

Verbit raises $60MM led by Sapphire Ventures
AI Technology Services • Round C • Palo Alto, CA

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