The first two decades of the twenty-first century witnessed a boom in M&A (Merger and Acquisitions) that drove IPOs (Initial Public Offerings) to the back seat. These two decades had been a quiet time for companies intending to go public. However, things started changing as we entered into the third decade as more startups that went public ushered in a new era in business funding. The flood of cash from government stimulus to combat the pandemic together with ultra-low interest rate triggered the drive for IPOs in 2021. The number of companies going public in 2021 rose to 976 from 217 four years ago. The attractiveness of companies increased tremendously as market valuations touched record highs and fueled the IPO boom.
Among other factors that caused the IPO boom is the desperate need for cash among startups and the rise of Special Purpose Acquisition Companies (SPACs) created with the sole purpose of merging or acquiring companies to go public.
Here is a list of startups that just went public.
Startups that went public in 2021
Samsara
Samsara, the San Francisco-based IoT Company with a valuation of $12 billion, is a leading name in the list of tech startups that went public this year. The company is a pioneer in Connected Operations Cloud and facilitates companies to leverage the power of IoT to improve business performance. Focusing on the hardware and software required for IoT-connected industrial assets and vehicles, the company provides a platform to its clients for collecting and analyzing data generated by the connected devices. The company launched its IPO on December 15 by setting its share price at $23 at the higher end hat rose to $24.90 on the listing, a gain of 7%.
Doximity Inc. (DOCS)
Doximity is among the tech startups that went public this year. The company offers a digital platform that allows collaboration among medical professionals with their colleagues. They can use the platform for securely coordinating patient care, conducting coordinated patient care, conducting current with research and medical news with a market cap of $12.7 billion, the company launched its IPO in June 2021 for an IPO price of $26. The company reported revenue of $79.4 million in the last quarter of the fiscal and has performed impressively to record a return of 159.7% as of December 2.
Dutch Bros Coffee (BROS)
Dutch Bros Coffee, the Oregon-based consumer product company, went public in September 2021 and set one of the biggest trends in consumer product startups that went public. The IPO price was $23, and at the close of the day, the share price went up to $37. The historical IPO was the biggest in the state and pushed up the company as the state’s fifth valuable company. The company’s stocks are currently trading at $53.67 and a market cap of $2.63 billion.
Adagio Therapeutics Inc. (ADGI)
The biopharmaceutical company has operations in the clinical stages of discovering and developing antibody-based solutions for pandemic triggering infectious diseases. The company’s initial focus is on the virus SARS- Cov2 that causes Covid-19. ADG2 is the company’s lead product candidate and, and the trials began in February 2021. Adagio Therapeutics intends that ADG 20 will be useful for preventing and treating Covid19. According to the filing to the SEC, the company was yet to generate any revenue for the quarter ended September 30, 2021. The company launched its IPO in August 2021 with an IPO price of $17. The market cap is $5.2, and the return as of December 2, 2021, is a whopping 173.5%.
ZIM Integrated Shipping Services Ltd (ZIM)
ZIM is a container shipping company based in Israel with pan-world operations in logistics services and sea-borne operations. The company operates 88 vessels but owns only one part of its business strategy. ZIM went public on January 28, 2021, with an IPO price of $15, when the industry was under severe strain from the spike in demand for goods compared to the services severely affected by the pandemic. The company turned the disruptions into opportunity, and as of December 2, 2021, the shares recorded a return of 265.5%.
The number of startups that went public is as astounding as these five companies’ performance. You should really proceed to know more about it as it holds ultimate importance and significance.
