Biggest Tech IPOs 2020

After a rocky year for technology companies in 2019, where the majority of big IPOs fell flat for the likes of Slack and Uber, 2020 is proving no easier amidst a global pandemic

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The 2019 calendar year will long be remembered in the eyes of public market watchers as the year of WeWork. Once billed as the most valuable startup in the United States, the company unraveled in dramatic fashion after filing its S-1 with the SEC, thanks to numerous issues with the company's business model and management practices.

This event, along with a succession of dud listings from such big names as Slack and Uber, spooked the markets, with IPO registration withdrawals up almost 50 percent in 2019, according to research firm Renaissance Capital. This left a sizeable backlog of potential listings for 2020, with the holiday rental company Airbnb headlining that list.

This busy runway was set to lead to a bumper year, but then the novel coronavirus hit and everything went on ice, with just a handful of technology IPOs of note until a burst of activity in June brought the market back to life.

Here are the biggest technology IPOs of the year so far:


The Insurtech pioneer Lemonade floated on 2 July, with shares doubling during the first day of trading. The New York company originally priced shares at $29, slightly above its initial estimation of $26-28, but traded for as much as $64 on the first day, raising $319 million in the process.

Founded in 2015, customers engage with Lemonade through an AI bot on its website – called Maya – to assess eligibility for renters' or homeowners' insurance, a model which has proved popular with younger users.

The company insured 425,000 homes in 2018, up from 100,000 at the close of 2017, according to its S-1 filing. Revenue reached $67 million in 2019, with net losses of $109 million for the unprofitable company.


Not to be confused with the red-hot videoconferencing company Zoom, ZoomInfo (ZI) successfully debuted on the public markets in June, raising almost $1 billion as its stock rose 60 percent on its first day of trading, valuing the company at $13 billion.

The 20-year-old software-as-a-service (SaaS) company offers a variety of services aimed at helping sales and marketing teams reach more customers by using its rich B2B contact data.

Shift4 Payments

Shift4 Payments also priced its IPO above its range, at $23 a share, which trended upwards by as much as 45 percent on its first day of trading in June.

The Pennsylvania-based company, which processes business-to-business payments, was founded all the way back in 1994. The firm decided to push on with its IPO after it saw payment volumes start to recover in the spring.

“We have tons of data, and we started to see the recovery really in late March and through April, and then really accelerate in May,” CEO Jared Isaacman told Yahoo Finance. “That’s what gave us the confidence to kind of reignite the IPO process and get it going.”


Database specialist Exasol floated on the Frankfurt Stock Exchange on 25 May at €12.74, becoming the first German company to IPO in 2020. The company raised €87.5 million ($96 million) in its first four days of trading as prices popped, before settling down at €11.89 in June.

Founded in 2000, the company has built an in-memory relational database for the cloud and rivals other options like Snowflake, Amazon Redshift and Teradata. It can be run in a hybrid model and on any of the major public cloud platforms.

Kingsoft Cloud

Kingsoft Cloud was the first Chinese company to go public in the United States when it floated on the Nasdaq on 8 May. The company raised $510 million at IPO, where it priced shares at $17, right in the middle of its expected range of $16 to $18. Shares jumped up by as much as 40 percent on the first day of trading.

Considered by many as the third place cloud services company in China, behind heavyweights Alibaba Cloud and Tencent, it was spun out of software company Kingsoft Corporation and is backed by technology giant Xiaomi, whose CEO Lei Jun is also the chairman of Kingsoft.

Still to list


Cloud data management firm Snowflake

Insurtech venture Lemonade


Holiday rentals giant Airbnb

Data analytics firm Palantir

Multicloud solutions provider Rackspace Technology

Cybersecurity firm McAfee

Apple device management specialist Jamf

Copyright © 2020 IDG Communications, Inc.

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