Investing

15 Top IPOs to Watch For in 2019

Beyond Meat

Beyond Meat filed its S-1 form with the SEC in November, with a preliminary target of $100 million for filing purposes. The company plans to list its shares on the Nasdaq under the symbol BYND, and its named underwriters were listed as Goldman Sachs, JPMorgan, Credit Suisse, Merrill Lynch, Jefferies and William Blair. This is one of the fastest growing food companies in the United States, but its portfolio of “meats” is actually plant based. While Beyond Meat increased net revenues from $8.8 million in 2015 to $32.6 million in 2017, the company still is losing money, with a $22.4 million net loss in the first three-quarters of 2018.

Cloudflare

Cloudflare, which provides software to improve security and load-times for websites in its content delivery network, showed in December that it had 25 terabytes per second of total capacity from a 165 data center global footprint. It most recently was expected to come public during the first half of 2019, with a valuation of some $3.5 billion. That was before the latest volatility in the stock market. A CNBC report from October of 2018 noted that Goldman Sachs was going to bring the company public. Its prior investors have included Fidelity, Alphabet/Google, Microsoft, Baidu and Qualcomm. As of December 2018, Cloudflare said that it is trusted by over 12 million different web domains for a faster, more secure and more reliable internet experience.

GE’s Healthcare

GE Healthcare is already quasi-public because it is still under General Electric Co. (NYSE: GE). That may be about to change as GE desperately tries to narrow its core industrial focus to get out of its current quagmire. CEO John Flannery is eyeing multiple sales, spin-outs and the like to deleverage GE’s balance sheet. Media reports out in mid-December of 2018 said that GE had confidentially filed for an IPO of its health care unit. This would be a big deal, but it remains to be seen how GE will get its full unit out to new and existing shareholders. Barron’s recently mentioned that GE’s health care unit could be worth as much as $60 billion on its own.

Palantir

Palantir Technologies is a top private data analytics and data mining outfit that caters to government clients. The company has been around for more than a decade and was founded by Peter Thiel. A report from The Hill in October of 2018 suggested that Palantir could have a valuation of as much as $41 billion, but that figure was twice the value of prior estimates. The company is known for being secretive, so who really knows what the valuation will be. We will have to just wait and see if 2019 is the year that the company is more open to the public.

Pelaton

Pelaton was expected to come public in 2018 after a $500 million or so capital raise. Now that’s a 2019 expected IPO for the spin-bike company with a social aspect as its catch. Spin cyclists can buy a Pelaton bike for as low as $2,245, with packages of up to almost $2,700, and its clients can access unlimited spin class content for $39 per month. The company has advertised aggressively enough that some people may have assumed it came public already. CNBC reported in the summer of 2018 that Pelaton has raised a total of almost $1 billion in capital, with a valuation of more than $4 billion at the time.

Pinterest

Pinterest could be the next (or maybe the last?) of the social media giants to come public in 2019. In mid-2018, Pinterest was said to be on the path to having $1 billion in annual revenues, with a value at the time of $13 billion to $15 billion for its 200 million users. CNBC reported that Pinterest planned to target a mid-2019 IPO. With Facebook, Twitter and Snapchat having issues of their own, Pinterest has become a place for advertisers in fashion, beauty and other industries to get in front of social media users without the public baggage of the other social media players.

Slack

Slack Technologies reportedly has hired Goldman Sachs to lead the company to an IPO. The team messaging and collaboration solutions company started in 2014 and now claims to be the fastest growing business application in history, with millions of users around the world. The December report showed 8 million daily active users, with 65 of the Fortune 100 companies having employees using Slack, and a total of 500,000 organizations (and 70,000 paying companies) using its platform.

SpaceX

SpaceX is a leader in the privatization efforts of space, but even after $500 million in funding, it remains unclear if and when the company will even be on an IPO docket. And being led by Elon Musk sure brings the reminder that Musk hoped to take Tesla off the public markets probably makes this unicorn and its reusable space rockets an outside shot here. Either way, many investors have wanted to be able to own a portion of SpaceX.

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