- This year was supposed to be the "year of unicorns," but market volatility and the 35-day government shutdown have caused some companies looking to go public to slow down or delay their filing processes.
- Some companies, including dueling ride-hailing competitors Uber and Lyft, have been taking their first official steps toward IPOs despite an uncertain economic environment.
- Here are all the tech startups that have taken steps toward going public in 2019, as well as companies that are rumored to be gearing up for an IPO later this year.
Although the market for tech IPO offerings is being called a "s---show" in 2019, it hasn't stopped some startups from taking steps toward going public anyway.
But thanks to market volatility at the end of 2018, as well as the government shutdown in January that put public filings on hold, 2019 as a "banner year" has started out slow. The down market has left many highly anticipated tech IPOs to be delayed, and bankers are now anticipating an inundation of IPOs in the second quarter of 2019, beginning in March.
Through the first three months of 2019, there have been only a handful of tech startups that have taken official steps toward going public. Some of the most highly anticipated startups have made their first moves already: Uber and Lyft have been duking it out to be the first of the two multibillion-dollar ride-hailing platforms to go public, with Lyft winning the race. The company will go public on March 29 at a whopping $21 billion valuation.
Here are the tech startups that have taken steps toward going public, and those that are rumored to make their first moves in 2019:
(Valuations and funding raised courtesy of PitchBook.)
Beyond Meat
Company role: Animal-free meat products
Year founded: 2009
Headquarters location: El Segundo, California
Valuation: $1.35 billion
Total funding raised: $192.8 million
Reported revenue: $56.4 million in first nine months of 2018 (MarketWatch)
IPO status: Beyond Meat filed to go public under the ticker BYND in November 2018. However, the company has yet to list because of delays tied to market volatility and the 35-day federal government shutdown that continued through January.
Lyft
Company role: Ride-hailing app
Year founded: 2007
Headquarters location: San Francisco
Valuation: $15.1 billion
Total funding raised: $4.91 billion
Reported revenue: $2.16 billion in 2018, up 111% year-over-year
IPO status: Lyft is set to go public Friday. Lyft has priced its IPO at $72 a share, giving the company a valuation of about $21 billion. The ride-hailing company will list on the Nasdaq under the symbol LYFT.
PagerDuty
Company role: IT incident-management platform
Year founded: 2009
Headquarters location: San Francisco
Valuation: $1.3 billion
Total funding raised: $173.7 million
Reported revenue: $100 million in "annual recurring revenue" as of September 2018 (Forbes)
IPO status: PagerDuty confidentially filed to go public with the SEC in January but has faced delays because of the government shutdown, Bloomberg reported.
See the rest of the story at Business Insider
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