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The IPO engine has sputtered back to life, but who's going public? A look at the companies that have publicly listed so far in 2019

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Risun Udawatta   June 13, 2019

 



2019 has been an eventful year for initial public offerings (IPO). For almost two decades, the market has experienced a drought of tech IPOs, during which companies have chosen to stay private for much longer than in the past. However, with this year nearly halfway over, eight high-profile tech companies have already gone public in one of the most anticipated IPO seasons in the last several years. Despite the mixed bag of post-IPO trading performance, more highly valued startups are expected to publicly list later this year.


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The 17 Biggest VC Fundings in 2019...So Far

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Michael Wenner   May 30, 2019


What a five months it's been. 2019 has been filled with a slew of massive funding rounds as tech companies prepare to head towards IPO exits - or perhaps, they'll just stay private forever - who knows? In any event, we've put together a list of private U.S. tech companies that have raised at least $500M in equity so far this year. The data was collected from Crunchbase.
Fun Facts:
  • There are four companies on this list in the autonomous vehicle space, raising a total of $3.18B in funding.
  • Doordash raised $600M three months and three days after their recent $400M round.
  • SoFi bought the rights to the new Rams/Chargers Stadium on the same day they announced their $500M funding round.

The Top 17 Largest Tech Fundings


17) SoFi
  • Last Funding Amount: $500M
  • Total Funding Amount: $2.5B
  • What They Do: Lending and Wealth Management

16) Clover Health
  • Last Funding Amount: $500M
  • Total Funding Amount: $925M
  • What They Do: Health Insurance

15) Rivian Automotive
  • Last Funding Amount: $500M
  • Total Funding Amount: $1.4B
  • What They Do: Autonomous Vehicles

14) Aurora
  • Last Funding Amount: $500M
  • Total Funding Amount: $620M
  • What They Do: Autonomous Vehicles

13) SpaceX
  • Last Funding Amount: $530M
  • Total Funding Amount: $3.2B
  • What They Do: Spacecraft and Rocket Manufacturer

12) UiPath
  • Last Funding Amount: $568M
  • Total Funding Amount: $1.0B
  • What They Do: Automation Software

11) DoorDash
  • Last Funding Amount: $600M
  • Total Funding Amount: $2.0B
  • What They Do: Delivery Logistics

10)  STX Entertainment
  • Last Funding Amount: $700M
  • Total Funding Amount: $700M
  • What They Do: Media & Entertainment

9) Nuro
  • Last Funding Amount: $940M
  • Total Funding Amount: $1.0B
  • What They Do: Robotics

8) Altavair
  • Last Funding Amount:  $1.0B
  • Total Funding Amount: $1.0B
  • What They Do: Aviation Finance

7) WeWork
  • Last Funding Amount: $1.0B
  • Total Funding Amount: $12.8B
  • What They Do: Building Management Solutions

6) Uber Advanced Technologies Group
  • Last Funding Amount: $1.0B
  • Total Funding Amount: $1.0B
  • What They Do: Autonomous Vehicles

5)  Flexport
  • Last Funding Amount: $1.0B
  • Total Funding Amount: $1.3B
  • What They Do: Freight Logistics

4) Verily
  • Last Funding Amount: $1.0B
  • Total Funding Amount: $1.8B
  • What They Do: Health Data

3) Cruise
  • Last Funding Amount: $1.2B
  • Total Funding Amount: $5.3B
  • What They Do: Autonomous Vehicles

2)  OneWeb
  • Last Funding Amount: $1.2B
  • Total Funding Amount: $3.0B
  • What They Do: Satellites Development

1) Infor
  • Last Funding Amount: $1.5B
  • Total Funding Amount: $4.0B
  • What They Do: Enterprise Software

There you have it! As always, keep checking the EquityZen blog for updates - this list may be bigger by the time you finish reading this post!

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SoftBank: Vision or Delusion?

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Adam Augusiak-Boro   August 23, 2018

On October 14, 2016, SoftBank shocked the world with the announcement of its $100 billion Vision Fund, which would focus on investing in late-stage technology companies. Within 7 months of the announcement, SoftBank had already cemented $93 billion in commitments and has since closed on the entire $100 billion amount.  Now, as SoftBank begins to deploy capital from the fund, we believe it faces a colossal undertaking in delivering competitive returns to its investors, which include tech titans like Apple and Qualcomm, as well as the Saudi and Abu Dhabi sovereign wealth funds.





Assuming an internal rate of return (“IRR”) of 20%, which is quite modest by VC standards, our research team estimates that SoftBank will have to generate over $142 billion in cash for the Vision Fund, which is approximately what Amazon was worth 16 years after its IPO. We further argue that, to compensate for the riskiness of SoftBank’s underlying investments, its investors are likely expecting returns of at least 30 to 40%, or a confounding $35 to $55 billion of cash generated per year in the second half of the fund’s life.  This would be the equivalent of spitting out an eBay-to-Tesla-sized company every year at current market prices.

“Masa’s ability to raise money is staggering,” according to Atish Davda, EquityZen CEO and Co-Founder. “SoftBank cemented $93 billion in only 7 months for its Vision Fund.  Compare that to the entire U.S. venture industry that took over 3 years starting in 2014 to cross $100 billion raised. The real question for Masa now is whether he’ll be able to generate competitive equity returns, especially following the mega rounds SoftBank is leading at seemingly frothy valuations.”

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