- Reuters / Lucas Jackson
Twilio is set to be the first big tech initial public offering of 2016, ending the drought that has had some investors worried.
It priced its first shares at $15 after the markets closed Wednesday, which was more than the $12 to $14 expected.
The relatively low-key company is in the business of sending texts and enabling phone calls for companies like Uber and Airbnb. If Twilio does well in its first day of trading, it could potentially break the ice and lead to a wave of tech companies going public.
The last tech company to go public was China Online Education Group, which priced its IPO earlier this month at $19. Share prices have risen since then to Tuesday’s close of $23.05.
Some of the more notable IPOs of the last year haven’t fared as well.
Twilio is now worth more than $1 billion, and all eyes will be on it as it begins its first day of trading Thursday.
Read on to find out about six notable recent tech IPOs and how those companies have performed so far.
All pricing data used below was provided by Dealogic.
- Mike Nudelman/Business Insider
Box is a cloud-storage competitor to Dropbox. The company went public in January 2015 and hasn’t done very well since then. After the company reported better-than-expected earnings in June, its shares tanked because of not-so-great guidance.
Aaron Levie, the CEO of Box, is known as a bit of a wunderkind in Silicon Valley; he founded Box when he was just 20 years old.
Initial offer: $14
First day closing price: $23.23
Last closing price: $11.52 (~50.4% decrease)
- Thomson Reuters
Etsy is an online marketplace for makers. You can buy everything from knitted scarves to handcrafted wooden toys on the site.
The company went public in April 2015 and has not performed well since. After Amazon announced in October 2015 that it was creating a marketplace for handmade goods, shares of Etsy tumbled.
It does have a really neat office, though.
Initial offer: $16
First day closing price: $30
Last closing price: $9.75 (~67.5% decrease)
- Lucas Jackson/Reuters
Fitbit is one of the biggest forces in the quantified-self movement. The wearables company is such a popular brand that President Barack Obama is known for regularly wearing one.
Unfortunately for the company, some investors have doubts about its continued success. Recent guidance was lower than expected, which sent share prices lower.
Initial offer: $20
First day closing price: $29.68
Last closing price: $13.50 (~54.5% decrease)
- REUTERS/Lucas Jackson
Jack Dorsey is probably better known for being the cofounder and current CEO of Twitter, but his payments company, Square, went public last November.
The company has had its ups and downs and is currently sitting at around 31% lower than its IPO price. Square shares fell 21% in a single day this year after the company reported disappointing earnings.
Initial offer: $9
First day closing price: $13.07
Last closing price: $9.35 (~28.5% decrease)
You might not have heard of the Match Group, but you have heard of Tinder, Match.com, and OkCupid – all of which Match Group owns.
Match Group went public last year as a subsidiary of IAC Interactive. The company is the only one on this list that sits above its IPO price. Despite a bit of trouble from a mouthy CEO, Match has been able to grow its group of dating companies without having them cannibalize one another.
Initial offer: $12
First day closing price: $14.74
Last closing price: $15.14 (~2.7% increase)
- Thomson Reuters
Atlassian is a software giant known for its collaboration software like HipChat and JIRA.
The company has famously never taken any venture capital to get started, and it runs profitably. Atlassian went public in December 2015 but hasn’t been the best performer since then.
Initial offer: $21
First day closing price: $27.78
Last closing price: $25.99 (~6.4% decrease)