The year 2017 saw a flurry of Initial Public Offerings (IPOs) as several companies made the leap to the public markets in search of growth capital. The IPO market was particularly strong in 2017, with a number of high-profile tech unicorns going public, such as Snap Inc. and Blue Apron Holdings Inc. However, not all of the companies that had their ipo in 2017 were successful, with some companies struggling to attract investors in the competitive market.
In this article, we take a look back at some of the notable IPOs of 2017, including the successful ones and the ones that did not fare so well.
Snap Inc. (NYSE: SNAP)
Snap Inc., the company behind the popular social media app Snapchat, went public on March 2, 2017, with an IPO price of $17 per share. The company had a market capitalization of $24 billion on its first day of trading, making it one of the largest tech IPOs in history companies that had their ipo in 2017.
Snap’s IPO was highly anticipated, but the company faced criticism for its lack of profitability and slowing user growth. The stock price initially rose after the IPO, but it later fell as investors grew concerned about the company’s ability to monetize its user base. Snap’s stock currently trades at around $60, down from its peak of $29.44 in March 2017.
Blue Apron Holdings Inc. (NYSE: APRN)
Blue Apron Holdings Inc., a meal-kit delivery service, went public on June 29, 2017, with an IPO price of $10 per share. The company had a market capitalization of $2 billion on its first day of trading.
Blue Apron faced intense competition in the crowded meal-kit delivery market, and the company struggled to retain customers and generate profits. The stock price plummeted after the IPO, and the company has since undergone several rounds of layoffs and cost-cutting measures. Blue Apron’s stock currently trades at around $3, down from its peak of $10 in June 2017.
Roku Inc. (NASDAQ: ROKU)
Roku Inc., a streaming device manufacturer, went public on September 28, 2017, with an IPO price of $14 per share. The company had a market capitalization of $1.3 billion on its first day of trading.
Roku’s IPO was well-received by investors, and the company’s stock price surged in the months after the IPO. The company’s strong financial performance and growing user base helped it attract investor attention, and the stock currently trades at around $430, up from its IPO price of $14.
Stitch Fix Inc. (NASDAQ: SFIX)
Stitch Fix Inc., an online personal styling service, went public on November 17, 2017, with an IPO price of $15 per share. The company had a market capitalization of $1.6 billion on its first day of trading.
Stitch Fix’s IPO was a success, and the company’s stock price rose significantly in the months after the IPO. The company’s unique business model and strong financial performance helped it attract investors, and the stock currently trades at around $120, up from its IPO price of $15.
Spotify Technology S.A. (NYSE: SPOT)
Spotify Technology S.A., a music streaming service, went public on April 3, 2018, with a direct listing on the New York Stock Exchange. The company had a market capitalization of $29.5 billion on its first day of trading.
Spotify’s direct listing was a unique approach to going public, as the company did not issue new shares or raise capital through the IPO. Instead, the company’s existing shareholders were able to sell their shares directly to investors. The company’s stock price initially rose after the IPO, but it has since fluctuated as the company faces increasing competition from rivals such as Apple Music and Amazon Music. Spotify’s stock currently trades at around $230, up from its direct listing reference price of $132.
Alteryx Inc. (NYSE: AYX)
Alteryx Inc., a data analytics software company, went public on March 24, 2017, with an IPO price of $14 per share. The company had a market capitalization of $912 million on its first day of trading.
Alteryx’s IPO was a success, and the company’s stock price rose significantly in the months after the IPO. The company’s innovative data analytics solutions and strong financial performance helped it attract investor attention, and the stock currently trades at around $185, up from its IPO price of $14.
CarGurus Inc. (NASDAQ: CARG)
CarGurus Inc., an online automotive marketplace, went public on October 12, 2017, with an IPO price of $16 per share. The company had a market capitalization of $3.7 billion on its first day of trading.
CarGurus’ IPO was well-received by investors, and the company’s stock price rose in the months after the IPO. The company’s innovative approach to car shopping and strong financial performance helped it attract investor attention, and the stock currently trades at around $38, up from its IPO price of $16.
MongoDB Inc., a cloud-based database company, went public on October 19, 2017, with an IPO price of $24 per share. The company had a market capitalization of $1.2 billion on its first day of trading.
MongoDB’s IPO was a success, and the company’s stock price rose significantly in the months after the IPO. The company’s innovative database companies that had their ipo in 2017 solutions and strong financial performance helped it attract investor attention, and the stock currently trades at around $510, up from its IPO price of $24.
Zscaler Inc. (NASDAQ: ZS)
Zscaler Inc., a cloud-based security company, went public on March 16, 2018, with an IPO price of $16 per share. The company had a market capitalization of $3.9 billion on its first day of trading.
Zscaler’s IPO was a success, and the company’s stock price rose significantly in the months after the IPO. The company’s innovative security solutions and strong financial performance helped it attract investor attention, and the stock currently trades at around $245, up from its IPO price of $16.
Conclusion
The year 2017 was a busy one for IPOs, with a number of companies going public in search of growth capital. While some companies that had their ipo in 2017, such as Snap Inc. and Blue Apron Holdings Inc., struggled to attract investors, others, such as Roku Inc. and Stitch Fix Inc., were successful in the public markets. Companies such as Spotify Technology S.A., Alteryx Inc., CarGurus Inc., MongoDB Inc., and Zscaler Inc. also had successful IPOs and have seen their stock prices rise significantly in the years since going public.
Overall, the success of an IPO often depends on a company’s unique value proposition, financial performance, and ability to attract investor attention in a competitive market. While not all IPOs are successful, those that are can provide companies with the growth capital needed to fuel innovation, expand their businesses, and create value for shareholders.