Pamela Cruz. Peninsula 360 Press [P360].
Several California-based technology companies unveiled plans to list on the New York Stock Exchange before the end of the year, taking advantage of a post-election market rally as well as restrictions on mobility and remote work.
Firms such as DoorDash, Airbnb, Roblox and Wish are taking advantage of a market rally following the November 3 elections, which has lifted stock market indices near all-time highs, driving clear demand in the public market.
Similarly, these companies dedicated to e-commerce, food delivery and online entertainment, expect to have a busy year-end, given the increase in cases of coronavirus and an economy that has had to adapt to more digital habits.
Undoubtedly, the most anticipated IPO is that of Airbnb, through which it hopes to raise three billion dollars through the sale of its shares, despite the fact that the firm has been severely affected by the pandemic and its outlook for the future looked uncertain.
It should be noted that Airbnb expected to make its public offering in early 2020, but the business was halted at the end of March. However, it is currently showing a revival as mobility restrictions are lifted, with users opting to work remotely in vacation homes.
DoorDash is a company similar to Rappi, which operates in the United States and Canada. The firm has been valued at $16 billion and became one of the big winners with the confinement measures, which have led people to order more food at home.
Thus, during the first nine months of the year the number of orders rose to 543 million, compared to 181 million in the same period of 2019; while its revenues increased from $239 million to $879 million in the reporting period.
As for Roblox, it is one of the video game companies that has recorded the highest growth during the pandemic, as its revenues grew 91 percent in the third quarter of 2020, to stand at just over $242 million.
In addition, its daily active users reached 36.2 million in September and play hours doubled to more than eight thousand, as people are spending more time at home, and can even organize virtual birthday parties and other gatherings in the app.
Finally, the popular e-commerce company Wish is a firm that is valued at just over $11 billion and has more than 100 million active users. Its revenues during the third quarter increased 33 percent to 606 million.
Wish was exposed during the early days of the pandemic because most of its merchants are based in China, so the disruption in deliveries caused revenues to fall in the first quarter of the year, but they are seeing a recovery.
2021 also looks like a promising year for IPOs on Wall Street, where investors are looking forward to online stock brokerage firm RobinHood making its debut during the first half of next year.
