How Are 2019 SAAS IPOs Holding Up in This Downturn?

Summary:

· 2019 was a banner year for high-growth SAAS companies going public, with 12 companies listing their shares, including Zoom, Slack, DataDog and Crowdstrike

· These companies IPO’ed at an average EV / LTM multiple of 15x, and as of April 9 … even with the recent market rout … the 2019 SAAS IPO Class is trading even higher at 18x

· If you had been able to buy into the latest pre-IPO round of these 12 companies, you would have made a 5x return, with 11 of the 12 companies in the black