Some of the biggest names in tech have gone public or are planning to go public in 2019.
While many of these tech startups remain unprofitable, investor hype and a favorable economic environment pushed many startups to head to Wall Street.
But with trade war tensions mounting and a clear path to profitability not materializing, some of the most anticipated IPOs have struggled to trade at or above opening prices.
Here is the full injury report for all tech startups that have gone public so far in 2019.
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It’s been a busy year for IPOs, with big names like Uber, Pinterest, and Slack all making their market debuts.
It’s also been a year of mixed fortunes for public offerings. Some companies, like video conferencing startup Zoom Technologies are trading well above their opening price. Others, like ride-hailing company Lyft, have been underwater since Day One.
As we move into the final months of 2019, two more big names are expected to float shares to the public: Coworking startup WeWork and connected fitness company Peloton. Both are valued well north of $1 billion, the traditional unicorn mark, but have yet to turn a profit in a widely competitive market.
In WeWork’s case, there’s already an incredible amount of skepticism surrounding the business and indications that it will IPO at a valuation significantly below where it was valued in the private markets.
If WeWork goes public at a lower valuation, it would enter the market in an enfeebled state. But at least it wouldn’t be alone.
Here’s the list of injured tech companies that have jumped into the public markets in 2019 and come out on a stretcher. There’s no reason these companies won’t be able to turn things around, but they’ve got a lot of ground to make up with investors. SEE ALSO: Too much success can kill a startup. Meet Menlo Ventures’ new ‘inflection stage’ fund that helps young startups dealing with late-stage problems.
5. Fiverr — down almost 21% from IPO opening price
What it is: Hiring website for freelancers
IPO date: June 14, NYSE (FVRR)
Offer price: $21
Open price: $26
Today’s price: $20.65
4. Uber — down about 23% from IPO opening price
What it is: Ride-hailing and food delivery service
IPO date: May 10, NYSE (UBER)
Offer price: $42
Open price: $45
Today’s price: $34.59
3. The RealReal — down more than 41% from IPO opening price
What it is: Online consignment for luxury goods
IPO date: June 28, NASDAQ (REAL)
Offer price: $20
Open price: $28.90
Today’s price: $17.02
2. Yunji — down more than 43% from IPO opening price
What it is: Chinese social commerce app
IPO date: May 3, NASDAQ (YJ)
Offer price: $11
Open price: $13.42
Today’s price: $7.68
1. Lyft — down almost 45% from IPO opening price
What it is: Ride hailing service
IPO date: March 29, NASDAQ (LYFT)
Offer price: $72
Open price: $87.24
Today’s price: $48.26
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