.svg){kind=icon}
How do you measure the success of an IPO? Too often, market gazers focus on the days after the offering and the performance of the stock over a short period.
But a longer perspective tells far more. With this in mind, DealRoom looks at the major IPOs from 2017 five years on and analyzes their performance since going public.
Why not check out: 11 Most Anticipated Upcoming IPOS in 2023
IPO Date: September 28, 2018
Offer amount: $252 million ($14.00 per share)
Sector: Consumer goods
IPO Price: $14
Current Stock Price: $54.32 (end of 2022)
Return Since IPO: +288%
On its first day of trading, Roku’s stock price nearly doubled on the offered amount. Investors were taken in by its futuristic view of connected televisions and the massive advertising revenues that awaited. During the Covid-19 pandemic, the world sat at home and consumed more television, momentarily driving the stock price to close to $500. In 2022, the company issued a profit warning, however, and despite the impressive growth since its IP:O in 2017, the stock currently finds itself on a worrying downward trend.
IPO Date: July 28, 2017
Offer amount: $138.0 million ($15.00 per share)
Sector: Real Estate Technology
IPO Price: $15
Current Stock Price: $4.29 (end of 2022)
Return Since IPO: -71.2%
Five years ago, real estate technology was all the rage. There was so much capital in private equity looking for real estate tech that most companies in the space weren’t even considering going public. One exception was Redfin, whose CEO ambitiously called it: “The Amazon of real estate.” What he didn’t count on was that the relative youth of real estate technology meant that it never had to contend with rising interest rates. In 2022, with interest rate rises showing no sign of ceasing, Redfin’s stock price has plunged 80% over the course of the year.
IPO Date: June 29, 2017
Offer amount: $300.0 million ($15.00 per share)
Sector: Technology
IPO Price: $10
Current Stock Price: $2.26 (end of 2022)
Return Since IPO: -77.4%
It’s hard not to have some pity on Blue Apron’s executive team charged with bringing the company to the market. During its IPO roadshow, Amazon announced that it was acquiring Whole Foods for $13 billion. Suddenly, there was a competitor in the market that looked far more convincing from an investment perspective. The IPO price was dropped from $15 to $10, and the trouble had only started. At one point, the stock even dipped into penny stock territory. At the end of 2022, the company has yet to make a profit - even after a Covid-19 pandemic that saw people order out like never before.
IPO Date: March 2, 2017
Offer amount: $3.4 billion ($17.00 per share)
Sector: Technology
IPO Price: $9.54
Current Stock Price: $100 (end of 2022)
Return Since IPO: -78%
There was no sign of skepticism around Snap stock when it was first listed, with its stock rising 44% on the first day of trading. However, headwinds weren’t long arriving. Shortly after the listing, the TikTok phenomenon arrived, taking away eyeballs and advertising revenues in the process. Since then, online advertising revenue has taken its first dip, and Snap was an obvious casualty. There’s still hope, however, with Snapchat arresting its user stagnation in 2019 and continuing to add new users into 2022.
IPO Date: April 28, 2017
Offer amount: $225.0 million ($15.00 per share)
Sector: Technology/Auto Industry
IPO Price: $15
Current Stock Price: $13.47 (end of 2022)
Return Since IPO: -11.3%
The signs weren’t great for Carvana on its first day of trading, when its stock was already trading at a discount of 10% on its offering price. The used car website had gained notoriety by selling cars in ‘vending machines.’ Over the course of the pandemic, its stock topped $330, as the used cars it listed became one of the biggest destinations for Americans’ stimulus checks. However, with interest rates on the rise, analysts believe that used cars are likely to be one of the first victims, and the stock currently hovers very close to its initial offering price.
IPO Date: June 28, 2017
Offer amount: €1.1. billion ($25.50 per share)
Sector: Technology
IPO Price: $25.50
Current Stock Price: €33.34 (end of 2022)
Return Since IPO: +30.7%
What a difference a company’s geography makes. Just a day before the disastrous Blue Apron IPO, at the other side of the Atlantic Ocean, Delivery Hero was listing on the Frankfurt Stock Exchange. The mood music was very different: The company faced none of the immediate competition from Amazon, and was the dominant player in a European food delivery market which was growing even faster than its counterpart in the US. Like many stocks on this list, Delivery Hero received a massive price boost during the pandemic but now trades at a respectable 30.7% over its initial offering price.
IPO Date: April 27, 2017
Offer amount: $180.0 million ($21.00 per share)
Sector: Consumer goods
IPO Price: $21
Current Stock Price: $67.09 (end of 2022)
Return Since IPO: +219%
Retailers with a focus on home decoration are one of the very few industries to have weathered the e-commerce revolution reasonably well. Examples include IKEA and Homebase. In 2017, the listing of Floor and Decor put the theory to the test and passed with flying colors. On its first day of trading, the stock rose 44% as investors were keen to cash in on the public’s fascination with refurbishing tired household interiors. Five and a half years after the IPO, the stock trades at a respectable 219% over its IPO price.
IPO Date: April 28, 2017
Offer amount: $225.0 million ($15.00 per share)
Sector: Technology
IPO Price: $15
Current Stock Price: No longer listed (end of 2022)
Return Since IPO: N/A
There was nothing in Cloudera’s first day of trading, when its stock finished up 23% on the opening price, to suggest that it would soon be taken private. In fact, by 2020, the stock had climbed even further to give the company a market valuation of $65.6 billion. However, like many tech firms with big ambitions, growth of revenues was easier to obtain than growth of the bottom line. Even after growing revenues to $869 million, net losses in 2020 were still $163 million. In June 2021, the company announced that it was being brought private at a value barely above its IPO price.
IPO Date: January 31, 2017
Offer amount: $1.8 billion ($20.00 per share)
Sector: Real Estate
IPO Price: $20
Current Stock Price: $30 (end of 2022)
Return Since IPO: +50%
Invitation homes is the largest owner of single-family homes in the United States, with over 85,000 units spread across the US. The company, using capital from parent company and private equity giant Blackstone, grew from the ashes of the great recession, scooping up unoccupied and partially developed houses to wait for the economy to pick up. It was a strategy that paid off handsomely. Nearly six years after its listing, the stock stands at around 50% over its initial public offering price, although is currently being battered by rising interest rates.
IPO Date: September 28, 2017
Offer amount: $488.0 million (€11.50 per share)
Sector: Technology (video games)
IPO Price: €11.50
Current Stock Price: €5.56 (end of 2022)
Return Since IPO: -51.6%
At the time of its IPO, Rovio’s games - the most famous of which was Angry Birds - had been downloaded 3.7 billion times. The good news for investors interested in the stock was that the company had managed to grow bottom line income from €11 million to €42 million in the previous year, suggesting there was a capable management team in place. Predicting where the gaming industry is going is never an easy call, however. With no titles to replace the success of Angry Birds, Rovio now trades at around 50% lower than its 2017 IPO.
IPO Date: December 20, 2017
Offer amount: SEK 1.8 billion (SEK 12.9 per share)
Sector: Technology (video games)
IPO Price: SEK 12.9
Current Stock Price: SEK 15.23 (end of 2022)
Return Since IPO: +18%
Apparently, 2017 was a good year to list for video game makers from Northern Europe. Following up on Rovio’s listing earlier in the year, Toadman Interactive (later renamed ‘Enad Global 7’) listed on the Stockholm Stock Exchange. Although it didn’t have a good first day, finishing the day down on its initial offering price by around 20%, it has since recovered to become one of the giants of Europe’s gaming industry. 2021 revenue was $2.21 billion, and the company has been astute in an acquisition policy that has seen it hoover up smaller promsining games manufacturers.
IPO Date: October 19, 2017
Offer amount: $192.0 million ($24.00 per share)
Sector: Technology
IPO Price: $24
Current Stock Price: $157.95 (end of 2022)
Return Since IPO: +558%
Even the investors that traded up MongoDB’s stock on its first day of trading by 50% to 30% could not have seen the phenomenal growth of its stock price in the subsequent five years. At one point during the Covid-19 pandemic, MongoDB touched $600, before sliding downward with the market in the year and a half since. Despite this, its growth is remains remarkable - 54% revenue growth in 2022 on a year before. As one of the technology companies behind the big name technology companies, MongoDB was a massive story that many failed to see at its offering.
IPO Date: October 16, 2017
Offer amount: $150.0 million ($16.00 per share)
Sector: Technology/Auto Industry
IPO Price: $16
Current Stock Price: $14.4 (end of 2022)
Return Since IPO: -10%
CarGuru took a simple and well-worn internet concept - the idea of a listings site for cars - to scale. When it listed in 2017, it did so without much fanfare, possibly because of the no-frills nature of its website, and the presence of the more well-known Carvana on the list of scheduled IPOs for that year. Although the stock traded up by nearly 100% on its first day, the fact that it doesn’t do anything that can’t be easily copied, added to rising interest rates, have probably contributed to it falling below its offering price in 2022.
IPO Date: December 19, 2017
Offer amount: $280.0 million ($14.00 per share)
Sector: Industrials
IPO Price: $14
Current Stock Price: $7.54 (end of 2022)
Return Since IPO: -46.2%
Newmark Group is a commercial real estate service and advisory firm. At the time of its IPO, it may have been seen as one of the less glamorous listings of 2017, given how it wasn’t selling itself as ‘the Amazon of real estate’ or possessing a real estate technology (‘proptech’) component. The subsequent five years have been turbulent to say the least, with the stock finishing as high as $18 and as low as $2.47. At the moment, it hovers at a price which is around a half of its IPO price as investors nervously await how housebuyers react to rising interest rates.
IPO Date: November 2, 2017
Offer amount: $100 million ($12.00 per share)
Sector: Industrials
IPO Price: $12
Current Stock Price: $19.49 (end of 2022)
Return Since IPO: +62%
Funko’s IPO in 2017 was widely considered the worst opening day for years. From an offering price of $12, the stock plummeted to $7, before recovering about six months later, tipping over $12 for the first time. The company makes licenced toys from vinyl and other materials, which is not necessarily an easy market to predict. But currently trading at a price above 60% where it started, Funko is one of the surprise success stories from 2017’s list of IPOs.
How do you measure the success of an IPO? Too often, market gazers focus on the days after the offering and the performance of the stock over a short period.
But a longer perspective tells far more. With this in mind, DealRoom looks at the major IPOs from 2017 five years on and analyzes their performance since going public.
Why not check out: 11 Most Anticipated Upcoming IPOS in 2023
IPO Date: September 28, 2018
Offer amount: $252 million ($14.00 per share)
Sector: Consumer goods
IPO Price: $14
Current Stock Price: $54.32 (end of 2022)
Return Since IPO: +288%
On its first day of trading, Roku’s stock price nearly doubled on the offered amount. Investors were taken in by its futuristic view of connected televisions and the massive advertising revenues that awaited. During the Covid-19 pandemic, the world sat at home and consumed more television, momentarily driving the stock price to close to $500. In 2022, the company issued a profit warning, however, and despite the impressive growth since its IP:O in 2017, the stock currently finds itself on a worrying downward trend.
IPO Date: July 28, 2017
Offer amount: $138.0 million ($15.00 per share)
Sector: Real Estate Technology
IPO Price: $15
Current Stock Price: $4.29 (end of 2022)
Return Since IPO: -71.2%
Five years ago, real estate technology was all the rage. There was so much capital in private equity looking for real estate tech that most companies in the space weren’t even considering going public. One exception was Redfin, whose CEO ambitiously called it: “The Amazon of real estate.” What he didn’t count on was that the relative youth of real estate technology meant that it never had to contend with rising interest rates. In 2022, with interest rate rises showing no sign of ceasing, Redfin’s stock price has plunged 80% over the course of the year.
IPO Date: June 29, 2017
Offer amount: $300.0 million ($15.00 per share)
Sector: Technology
IPO Price: $10
Current Stock Price: $2.26 (end of 2022)
Return Since IPO: -77.4%
It’s hard not to have some pity on Blue Apron’s executive team charged with bringing the company to the market. During its IPO roadshow, Amazon announced that it was acquiring Whole Foods for $13 billion. Suddenly, there was a competitor in the market that looked far more convincing from an investment perspective. The IPO price was dropped from $15 to $10, and the trouble had only started. At one point, the stock even dipped into penny stock territory. At the end of 2022, the company has yet to make a profit - even after a Covid-19 pandemic that saw people order out like never before.
IPO Date: March 2, 2017
Offer amount: $3.4 billion ($17.00 per share)
Sector: Technology
IPO Price: $9.54
Current Stock Price: $100 (end of 2022)
Return Since IPO: -78%
There was no sign of skepticism around Snap stock when it was first listed, with its stock rising 44% on the first day of trading. However, headwinds weren’t long arriving. Shortly after the listing, the TikTok phenomenon arrived, taking away eyeballs and advertising revenues in the process. Since then, online advertising revenue has taken its first dip, and Snap was an obvious casualty. There’s still hope, however, with Snapchat arresting its user stagnation in 2019 and continuing to add new users into 2022.
IPO Date: April 28, 2017
Offer amount: $225.0 million ($15.00 per share)
Sector: Technology/Auto Industry
IPO Price: $15
Current Stock Price: $13.47 (end of 2022)
Return Since IPO: -11.3%
The signs weren’t great for Carvana on its first day of trading, when its stock was already trading at a discount of 10% on its offering price. The used car website had gained notoriety by selling cars in ‘vending machines.’ Over the course of the pandemic, its stock topped $330, as the used cars it listed became one of the biggest destinations for Americans’ stimulus checks. However, with interest rates on the rise, analysts believe that used cars are likely to be one of the first victims, and the stock currently hovers very close to its initial offering price.
IPO Date: June 28, 2017
Offer amount: €1.1. billion ($25.50 per share)
Sector: Technology
IPO Price: $25.50
Current Stock Price: €33.34 (end of 2022)
Return Since IPO: +30.7%
What a difference a company’s geography makes. Just a day before the disastrous Blue Apron IPO, at the other side of the Atlantic Ocean, Delivery Hero was listing on the Frankfurt Stock Exchange. The mood music was very different: The company faced none of the immediate competition from Amazon, and was the dominant player in a European food delivery market which was growing even faster than its counterpart in the US. Like many stocks on this list, Delivery Hero received a massive price boost during the pandemic but now trades at a respectable 30.7% over its initial offering price.
IPO Date: April 27, 2017
Offer amount: $180.0 million ($21.00 per share)
Sector: Consumer goods
IPO Price: $21
Current Stock Price: $67.09 (end of 2022)
Return Since IPO: +219%
Retailers with a focus on home decoration are one of the very few industries to have weathered the e-commerce revolution reasonably well. Examples include IKEA and Homebase. In 2017, the listing of Floor and Decor put the theory to the test and passed with flying colors. On its first day of trading, the stock rose 44% as investors were keen to cash in on the public’s fascination with refurbishing tired household interiors. Five and a half years after the IPO, the stock trades at a respectable 219% over its IPO price.
IPO Date: April 28, 2017
Offer amount: $225.0 million ($15.00 per share)
Sector: Technology
IPO Price: $15
Current Stock Price: No longer listed (end of 2022)
Return Since IPO: N/A
There was nothing in Cloudera’s first day of trading, when its stock finished up 23% on the opening price, to suggest that it would soon be taken private. In fact, by 2020, the stock had climbed even further to give the company a market valuation of $65.6 billion. However, like many tech firms with big ambitions, growth of revenues was easier to obtain than growth of the bottom line. Even after growing revenues to $869 million, net losses in 2020 were still $163 million. In June 2021, the company announced that it was being brought private at a value barely above its IPO price.
IPO Date: January 31, 2017
Offer amount: $1.8 billion ($20.00 per share)
Sector: Real Estate
IPO Price: $20
Current Stock Price: $30 (end of 2022)
Return Since IPO: +50%
Invitation homes is the largest owner of single-family homes in the United States, with over 85,000 units spread across the US. The company, using capital from parent company and private equity giant Blackstone, grew from the ashes of the great recession, scooping up unoccupied and partially developed houses to wait for the economy to pick up. It was a strategy that paid off handsomely. Nearly six years after its listing, the stock stands at around 50% over its initial public offering price, although is currently being battered by rising interest rates.
IPO Date: September 28, 2017
Offer amount: $488.0 million (€11.50 per share)
Sector: Technology (video games)
IPO Price: €11.50
Current Stock Price: €5.56 (end of 2022)
Return Since IPO: -51.6%
At the time of its IPO, Rovio’s games - the most famous of which was Angry Birds - had been downloaded 3.7 billion times. The good news for investors interested in the stock was that the company had managed to grow bottom line income from €11 million to €42 million in the previous year, suggesting there was a capable management team in place. Predicting where the gaming industry is going is never an easy call, however. With no titles to replace the success of Angry Birds, Rovio now trades at around 50% lower than its 2017 IPO.
IPO Date: December 20, 2017
Offer amount: SEK 1.8 billion (SEK 12.9 per share)
Sector: Technology (video games)
IPO Price: SEK 12.9
Current Stock Price: SEK 15.23 (end of 2022)
Return Since IPO: +18%
Apparently, 2017 was a good year to list for video game makers from Northern Europe. Following up on Rovio’s listing earlier in the year, Toadman Interactive (later renamed ‘Enad Global 7’) listed on the Stockholm Stock Exchange. Although it didn’t have a good first day, finishing the day down on its initial offering price by around 20%, it has since recovered to become one of the giants of Europe’s gaming industry. 2021 revenue was $2.21 billion, and the company has been astute in an acquisition policy that has seen it hoover up smaller promsining games manufacturers.
IPO Date: October 19, 2017
Offer amount: $192.0 million ($24.00 per share)
Sector: Technology
IPO Price: $24
Current Stock Price: $157.95 (end of 2022)
Return Since IPO: +558%
Even the investors that traded up MongoDB’s stock on its first day of trading by 50% to 30% could not have seen the phenomenal growth of its stock price in the subsequent five years. At one point during the Covid-19 pandemic, MongoDB touched $600, before sliding downward with the market in the year and a half since. Despite this, its growth is remains remarkable - 54% revenue growth in 2022 on a year before. As one of the technology companies behind the big name technology companies, MongoDB was a massive story that many failed to see at its offering.
IPO Date: October 16, 2017
Offer amount: $150.0 million ($16.00 per share)
Sector: Technology/Auto Industry
IPO Price: $16
Current Stock Price: $14.4 (end of 2022)
Return Since IPO: -10%
CarGuru took a simple and well-worn internet concept - the idea of a listings site for cars - to scale. When it listed in 2017, it did so without much fanfare, possibly because of the no-frills nature of its website, and the presence of the more well-known Carvana on the list of scheduled IPOs for that year. Although the stock traded up by nearly 100% on its first day, the fact that it doesn’t do anything that can’t be easily copied, added to rising interest rates, have probably contributed to it falling below its offering price in 2022.
IPO Date: December 19, 2017
Offer amount: $280.0 million ($14.00 per share)
Sector: Industrials
IPO Price: $14
Current Stock Price: $7.54 (end of 2022)
Return Since IPO: -46.2%
Newmark Group is a commercial real estate service and advisory firm. At the time of its IPO, it may have been seen as one of the less glamorous listings of 2017, given how it wasn’t selling itself as ‘the Amazon of real estate’ or possessing a real estate technology (‘proptech’) component. The subsequent five years have been turbulent to say the least, with the stock finishing as high as $18 and as low as $2.47. At the moment, it hovers at a price which is around a half of its IPO price as investors nervously await how housebuyers react to rising interest rates.
IPO Date: November 2, 2017
Offer amount: $100 million ($12.00 per share)
Sector: Industrials
IPO Price: $12
Current Stock Price: $19.49 (end of 2022)
Return Since IPO: +62%
Funko’s IPO in 2017 was widely considered the worst opening day for years. From an offering price of $12, the stock plummeted to $7, before recovering about six months later, tipping over $12 for the first time. The company makes licenced toys from vinyl and other materials, which is not necessarily an easy market to predict. But currently trading at a price above 60% where it started, Funko is one of the surprise success stories from 2017’s list of IPOs.
.png "Frontrunners Badge"){kind=icon}
.png "Shortlist Badge"){kind=icon}
.png "Category Leaders Badge"){kind=icon}
.svg)
.png)
