Biggest tech IPOs of 2021

After a big year for tech firms in 2020, will the lasting effects of the pandemic continue to affect the tech stock boom in 2021?

volitale up down market stocks mixed
Thinkstock

The 2020 calendar year will long be remembered as an annus horribilis for most, except for a handful of technology companies that reaped the rewards of a global shift to remote work with successful initial public offerings (IPOs).

US companies alone raised a record $435 billion in stock sales in 2020, with more than a quarter of that figure coming from IPOs — far outstripping 2014's mark of $279 billion, according to data compiled by Bloomberg. The vast majority of those new listings defined themselves as technology companies.

Cloud-based software firms like Zoom, Snowflake, Asana, Airbnb, and Palantir all performed particularly well, and continue to see their stock price flourish as remote work and e-commerce continue to be the norm for many into 2021.

The question now is whether this trend will continue through the year. There are a host of companies eying an early debut in 2021 to take advantage of favorable conditions. But, as with all market debuts, timing will be everything, with a number of industry analysts increasingly warning of a bubble.

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

Toast

Toast, which provides various software products to restaurant owners, including payments processing, successfully floated on the New York Stock Exchange on Sept. 22 at $40 per share, well above its expected range of $34 to $36, valuing the company at $20 billion. Shares continued to rise by as much as 56% on its first day of trading, with an implied valuation of $31 billion.

The Boston, MA-based company, which currently only serves US-based customers, had to ride out a tough pandemic, where it slashed employee numbers and saw transaction volumes plummet.

1 2 Page 1
Page 1 of 2
7 inconvenient truths about the hybrid work trend
 
Shop Tech Products at Amazon