5 Huge Tech IPOs to Watch in 2019
A new report predicts there could be nearly 300 public offerings in 2019.
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The great tech IPO boom expected in 2018 turned out to be more fizzle than sizzle. But it could still come soon.
That's according to a new report by CB Insights, a research firm that tracks initial public offerings. This year 19 VC-backed tech companies went public, the same number as in 2017.
The numbers are in part the result of an increase in merger and acquisition activity in 2018, with giant corporations snatching up companies just before their planned IPOs, as SAP did in its $8 billion purchase of Qualtrics. Companies also are staying private for longer than in the past. Today, the median time between a startup's first funding round and its IPO is 10.1 years, up from 6.9 years in 2013, according to the report.
Still, CB Insights identified 286 tech companies that could go public in 2019. Here are five notable ones, listed alphabetically:
Cloudflare: The company, which protects websites from security attacks, has raised $182 million in funding, according to CB Insights. In October, it was reported that Cloudflare is preparing for a $3.5 billion IPO in 2019.
Lyft: After acquiring Motivate, the largest bike-sharing network in the U.S., the company is gearing up to beat rival Uber in the race to go public. Its IPO is expected in the spring.
Peloton: Speaking of bikes, the exercise startup already has raised about $1 billion in funding, according to CB Insights. Its co-founder and CEO, John Foley, has said it plans to go public in 2019.
Uber: Since Dara Khosrowshahi took over as CEO, the ride-hailing company has been very vocal about going public in 2019. Earlier this month it filed confidential paperwork for an IPO that could value the company at $120 billion.
Zoom: The videoconferencing software company reportedly has tapped investment bank Morgan Stanley to lead a 2019 IPO.