Business of Design

8 U.S. Tech Businesses Priced IPOs This Week, Raising an Estimated $5 Billion

In what could be the biggest week for new listings in more than five years, at least eight businesses are set to price initial public offerings (IPOs) in in the next few days, looking to raise a total of nearly $5 billion.

The Download: At least eight businesses are expected to price profitable IPOs in the next three days, yielding nearly $5 billion in what may be the most commercially viable week for new listings in five years.

Why It Matters: It’s the strongest IPO market in more than two decades, with U.S. tech stocks—now worth more than the entire European stock market—leading the way. According to Refinitiv data, almost $83 billion was raised across 203 IPOs in 2020, not including listings of special purpose acquisition vehicles (SPACs) on U.S. stock exchanges. Firms like home-rental company Airbnb, food delivery startup DoorDash, and data warehouse firm Snowflake capitalized on the stock market recovery following Covid-19.

In Their Own Words: “It’s almost like we didn’t miss a beat here after a record 2020. This week is the start of what we expect to be a very busy January,” said Eddie Molloy, co-head of equity capital markets in the Americas at Morgan Stanley.

Surface Says: The U.S. is holding its own in the stock market. IPOs are having a solid start this year, following the rise of biotechnology companies.

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