$271 Million in Sticker Sales

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Live offerings, preview listings, and some analysis on the pre-IPO space

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Hello Investors,
 
 
Hold the LINE: What the Line IPO means for future tech IPOs
You may have been busy playing Pokemon Go, but last week also marked the largest tech IPO of the year. LINE Corp successfully raised $1.3 billion in its IPO on the New York Stock Exchange.
 
Might other tech companies now test the public markets after the Japan-based messaging service (which makes $271 million a year by selling digital stickers within the app) had a successful listing? History wouldn't suggest it.
 
Below, you'll see historical tech IPO activity surrounding the Twitter and Alibaba IPOs, two outsized tech listings over the past 3 years:
 
Source: SEC Filings
 
It appears to be business as usual after each of the large IPOs, suggesting that a "mega-IPO" doesn't impact future IPO activity.
 
One positive note, however, would be the first-day IPO gains of LINE, and US-based Twilio, a cloud communications company backed by Union Square Ventures, Bessemer Venture Partners and T Rowe Price. Compared to the average 2016 IPO gaining 8% on the first day of trading, Twilio and LINE gained 92% and 27%, respectively. Below are historical first-day IPO returns, courtesy of our friends at Renaissance Capital.
 
 
Thanks,
Phil Haslett | Founder + Head of Investments | EquityZen 

In other news...

Cambridge: Private equity, venture capital returns down in 2015, but better than public markets

The Cambridge Associates U.S. Private Equity index and the U.S. Venture Capital index returned 5.9% and 12.9%, respectively, in 2015, ahead of the Nasdaq Composite index, the S&P 500 and the Russell 2000, which returned 5.7%, 1.4% and -4.4%, respectively, for the year.

 

Line, the newly public messaging app, has funded at least 9 U.S. startups

Line, the popular Japanese messaging service that went public last week on both the NYSE and in Japan, partnered on a fund a couple of years ago with the New York-based venture firm Collaborative Fund in order to gain more of a foothold in the U.S.

 

Funding Rounds Since Last Week


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