IPO Fever and a Look Back at IPOs Over the Last 10 Years

By Charlie Bilello

06 Dec 2020


2020 has become a boom year for IPOs, and it’s not over yet.

In the next few weeks Airbnb (ABNB), Doordash (DASH), Wish (WISH), and Roblox (RBLX) are all expected to go public.

In November, we saw the highest number of new IPO filings in the last 20 years.

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Why are companies rushing to cash in? The demand and risk appetite from investors hasn’t been this high in a long, long time.

One way to measure that is looking at one of the largest IPO ETFs (Ticker: IPO) which has more than doubled on the year…

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This turn of events is nothing short of remarkable considering where we stood back in March…

But here we are, with IPO fever as hot as it’s been since 1999-2000.

How long will the party last?

No one knows. While there are certainly parallels to manias of the past, 2020 has taught us once again that every time is different.

Demand from investors and the multiples they are willing to pay can vary greatly over time, and we are certainly at the higher end of that spectrum today. But regardless of market sentiment, great companies will continue to be born, and eventually turn to the public markets for access to capital and liquidity.

Let’s take a look back at the last 10 years in the IPO markets and the incredible high growth companies that have emerged…

Class of 2020

Company with largest market cap today: Snowflake ($SNOW).

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Class of 2019

Company with largest market cap: Zoom ($ZM).

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Class of 2018

Company with largest market cap: Pinduoduo ($PDD).

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Class of 2017

Company with largest market cap: Sea ($SE).

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Class of 2016

Company with largest market cap: Twilio ($TWLO).

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Class of 2015

Company with largest market cap: Shopify ($SHOP).

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Class of 2014

Company with largest market cap today: Alibaba ($BABA).

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Class of 2013

Company with largest market cap today: Zoetis ($ZTS).

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Class of 2012

Company with largest market cap today: Facebook ($FB).

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Class of 2011

Company with largest market cap today: HCA Healthcare ($HCA).

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Class of 2010

Company with largest market cap today: Tesla ($TSLA).

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IPOs from 2010-2020 With Largest Current Market Caps

Top Performing IPOs from 2010-2019 With Current Market Cap > $10 Billion

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About the author

Charlie Bilello

Charlie is the founder and CEO of Compound Capital Advisors.

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