6 Mobile App IPOs that Have Rocked the Tech World in Last 5 Years
Since last few years’ tech industry is experiencing tremendous changes, not only in terms of technology evolution but also emerging business perspectives. These days, one of the most popular business trends amongst tech giants is, they are rushing to go to the public by releasing Initial Public Offerings (IPO). Mobile apps are also not exempted from it.
There are few famous mobile app companies who have released their IPOs during last five years, and they are doing great in the market as well. Let’s have a quick look at major IPOs released by the mobile app market leaders.
Snapchat
Snap Inc., the owner of Snapchat, has filed an IPO to go the public on 2nd Feb 2016. It is expected the company would go to the public in March. According to a regulatory filing, the upcoming IPO of the company priced at between $14 to $16 per share. This would value to Sap Inc. at between $19.5 billion to $22.2 billion.
The company was offering to sell 200 million Class-A common stock. It will trade on the New York Stock Exchange under the ticker “SNAP”. Total offering will increase to 230 million shares, if the underwriters exercise their option to buy the additional 30 million shares up for grab.
Line
The Japanese social networking company has made its debut on New York Stock Exchange on 14th July 2016. The initial price of their shares was $42/per share. Shares are trading under the symbol “LN”. Line is owned by Naver, South Korean internet company. It offered 13 million shares on the Tokyo Stock Exchange and 22 million shares on the New York Stock Exchange.
Later on, the company shares jumped more than 30% after the offering with a high of $44.49. The company received values of $9 billion for the shares. Naver offers free messaging and voice calls as well as generate massive revenue from advertising, digital stickers, and games.
Candy Crush
Candy Crush is one of the most popular game apps that is owned by King Digital Entertainment. The company has released its IPO on 26th March 2014. Initially, the company set its share prices at $22.50. The gaming enterprise is listed as “KING” on the NYSE. King Digital Entertainment issued $22.5 million shares giving the IPO an initial value of just under $500 million.
The company didn’t perform well during its initial days; they faced the least market prices of their shares. On the first day when the market opened, the investors lose their interest in “KING”, and stock of the company opened on the NYSE at $20.50. The stock tumbled as lower as $19 per share in heavy trading volume.
Twitter has chosen NYSE for its IPO listing that was released on 7th November 2013. The stock is trading under the ticker symbol “TWTR”. On 6th November 2013, Twitter has set its offer price at $26 per share. Next morning when the market opened, Twitter’s stock opened at $45.10, peaked at $ 50.09 and closed at $44.90. The closing price is slightly below than opening one.
As per the stock market, the closing must be greater than the offer price on the first day of trading. Thus, it was a failure of Twitter, though the company is a big brand, they failed in becoming first-time billionaires.
Facebook, the leading social networking company, had released its IPO on 18th May 2012. It was the biggest IPO in the history of the internet and across the technology world with a peak market capitalization of over $104billion. The company started trading under the title “FB”. Facebook has chosen to list down its stock on Nasdaq.
The company announced various plans for its IPO in an official Form S-1 SEC filing. To increase the values of its stock, Facebook announced the $1 billion acquisition of Instagram. The company filed Amendments №5 to Form S-1 where they set a price range of $28 to $35 for its IPO. Thus, ups and downs in the share prices of Facebook continue with the years passes.
Tinder
Tinder is owned by Match Group that has made its trading debut on 19th November 2015. The company was soaring 15% at one point from its IPO price of $12. Tinder stock sessions ended at $14.74, up nearly 23% from the open. The parent of Tinder, OkCupid, and other online dating services had priced its IPO to raise $400 million. It was valued around $4.2billon including debt.
The company is trading under the title “MTCH”. The Match Group is owned by a Texas-based company IAC/InterActiveCorp that has built various online dating sites for the smartphones to attract young professionals that are coveted by advertisers.
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