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191 companies had their IPO (initial public offering) in 2018, raising a total of $47.2 billion. These numbers were similar to the 195 IPOs in 2017 but showed a significant increase from the 98 IPOs in 2016. Although 2018 was a strong year for IPOs, it did not match the peaks in 2014 and 2013, with 273 IPOs and 222 IPOs, respectively.

IPOs give important insight into the market as the revenue and growth from companies going public can show where the market might be more successful and what industries are the focus of public attention. Companies have the opportunity to raise capital and expand their business, while investors have the opportunity to invest in promising companies. In 2018, tech companies, consumer brands and financial firms were especially popular, while the numbers from IPOs as a whole reflected a continuing interest and excitement around new, innovative companies going public.

The Biggest IPOs of 2018:

  • Spotify Technology S.A. (SPOT) - $26.54 billion
  • SoftBank Group Corp. (SFTBY) - $23.5 billion
  • China Tower Corp. Ltd. (CHWRF) - $7.5 billion
  • Xiaomi Corp. (XIACY) - $4.7 billion
  • Meituan-Dianping (MPNGY) - $4.2 billion
  • AXA Equitable Holdings, Inc. (EQH) - $2.7 billion
  • PagSeguro Digital Ltd. (PAGS) - $2.27 billion
  • iQiyi, Inc. (IQ) - $2.25 billion
  • Pinduoduo Inc. (PDD) - $1.6 billion
  • Elanco Animal Health Inc. (ELAN) - $1.5 billion

The Biggest U.S. VC-backed IPOs of 2018:

  • PagSeguro Digital Ltd. (PAGS) - $2.6 billion
  • StoneCo Ltd. (STNE) - $1.4 billion
  • Domo Inc. (DOMO) - $690 million
  • DocuSign Inc. (DOCU) - $629 million
  • Dropbox Inc. (DBX) - $756 million
  • Zuora Inc. (ZUO) - $154 million
  • Pivotal Software Inc. (PVTL) - $555 million
  • Bloom Energy Corp. (BE) - $270 million
  • Carbon Black Inc. (CBLK) - $152 million
  • Eventbrite Inc. (EB) - $230 million

2018 Notables

Spotify Technology, the biggest IPO of 2018, opted for a direct listing instead of the traditional IPO process. This stock has been volatile since and, as of mid-2022, the company has been trading below its 2018 IPO price.
On a different note, biopharmaceutical company Moderna has become more popular since its IPO, as it became a household name for developing a vaccine during the COVID-19 pandemic.
Other notable companies that went public in 2018—with varying degrees of success—include Dropbox, DocuSign, Eventbrite and BJ’s Wholesale Club. SoftBank, another company that went public in 2018, was one of the top 10 global IPOs by capital raised as of 2022.
By the end of 2018, the largest IPOs by capital raised were, as listed below, some of the best performers of that year, suggesting ongoing successful performance from these companies, including:

  • Moderna
  • AXA Equitable Holdings, Inc.
  • PagSeguro Digital Ltd.
  • iQiyi, Inc.
  • Pinduoduo Inc.
  • Elanco Animal Health Inc.
  • BJ’s Wholesale Club

A Summary of the 2018 IPOs

2018 saw various notable companies go public, providing opportunities to raise capital and grow for both the companies themselves and investors. Many of the companies that strove to raise money and drive growth by going public in 2018 continue to be successful, even as we go into 2024.

Why Invest Now?

Our team at Totus is here to educate you about how you can respond to inconsistent markets and fluctuating stocks. We start by reviewing any current investments and making recommendations based on academic market research like the success of specific IPOs. We’ll help you construct a personalized portfolio designed to address your specific goals.