Opening Day: Ten IPOs To Watch In 2022
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IPOs had a record-breaking run in 2021, with traditional initial public offerings raising more money than ever before this year. According to Dealogic, IPOs have totaled over $301 billion collectively, easily surpassing 2020's $168 billion. 2022 might see some long-awaited fast-growing companies go public, including the following.
1. Mobileye
Mobileye is a subsidiary of Intel (INTC) that develops self-driving car technology and advanced driver-assistance systems. On Dec. 6, Intel announced its intention to take Mobileye public in the United States in mid-2022 via an initial public offering of newly issued Mobileye stock. Intel stated:
"The move will unlock the value of Mobileye for Intel shareholders by creating a separate publicly traded company and will build on Mobileye's successful track record and serve its expanded market. Intel will remain the majority owner of Mobileye, and the two companies will continue as strategic partners, collaborating on projects as they pursue the growth of computing in the automotive sector.
"Recently acquired Moovit as well as Intel teams working on lidar and radar development and other Mobileye projects will be aligned as part of Mobileye. […] A final decision on the IPO and its conditions and ultimate timing is pending and subject to market conditions. Intel, as majority shareholder, will continue to fully consolidate Mobileye. The transaction is not expected to have an impact on Intel's 2021 financial targets."
2. Stripe
Stripe is a financial services and software as a service company dual-headquartered in San Francisco, United States and Dublin, Ireland. The company primarily offers payment processing software and application programming interfaces for e-commerce websites and mobile applications.
Back in September, Bloomberg's Crystal Tse and Katie Roof reported that Stripe was in early discussions with investment banks about going public as soon as 2022. The 11-year-old company is considering a market debut through a direct listing or initial public offering, according to people familiar with the matter.
3. Impossible Foods
Impossible Foods develops plant-based substitutes for meat products. The company's stated aim is to give people the taste and nutritional benefits of meat without the negative health and environmental impacts associated with livestock products.
According to a report by Forbes' Chloe Sorvino, Impossible Foods is set on going public, with CEO Pat Brown telling the publication last month that he was certain it would happen. "At some point, we will go public," Brown said, "but not any specified time in the future."
4. Instacart
Instacart operates a grocery delivery and pick-up service in the United States and Canada. The company offers its services via a website and mobile app. The service allows customers to order groceries from participating retailers with the shopping being done by a personal shopper.
Instacart has pushed off plans for a public listing until 2022 or later, which marked a shift from earlier this year, when Instacart executives discussed listing the company's shares in the fourth quarter, The Information's Berner Jin reported last month.
5. Discord
Discord is a VoIP, instant messaging and digital distribution platform. Users communicate with voice calls, video calls, text messaging, media, and files in private chats or as part of communities called "servers."
Discord hasn't publicly announced any plans to go public. Early in 2021, the company had been in talks with Microsoft (MSFT) over an acquisition worth $10 billion, but decided to halt talks to sell itself as it resumed interest in a possible IPO down the line, according to media reports.
6. Airtable
Airtable is a cloud collaboration service headquartered in San Francisco. Airtable is a spreadsheet-database hybrid, with the features of a database but applied to a spreadsheet.
Earlier this month, Airtable said it raised $735 million in a Series F funding round that values the enterprise software company at $11 billion, CNBC's Riley de Leon reported. The company has now raised nearly $1.4 billion to date.
7. Chime
Chime Financial is a financial technology company which provides fee-free mobile banking services provided and owned by The Bancorp Bank or Central National Bank.
San Francisco digital bank Chime is in talks to go public at a valuation of $35 to $45 billion and it is targeting March of 2022 for the IPO, Forbes' Jeff Kauflin reported, citing people familiar with the matter.
8. Klarna
Klarna Bank AB, commonly referred to as Klarna, is a Swedish fintech company that provides online financial services such as payments for online storefronts and direct payments along with post-purchase payments.
Back in September, Klarna CEO Sebastian Siemiatkowski told CNBC that the company will likely wait for volatility in the stock market to settle before solidifying plans for an initial public offering.
“The volatility in the market right now makes me nervous to IPO to be honest,” Siemiatkowski told CNBC's Karen Tso at the London Tech Week conference. “I think it would be nice to IPO when it's a little bit more sound. And right now it doesn't feel really sound out there,” he is quoted as having said.
9. ThoughtSpot
ThoughtSpot is a technology company that produces business intelligence analytics search software. The ThoughtSpot IPO has no confirmed date.
10. Panera
Panera Bread is an American chain store of bakery-café fast casual restaurants with over 2,000 locations, all of which are in the United States and Canada.
After going private in 2017, Panera Bread is going public again. The company said last month that it is planning to file for an initial public offering and announced it has secured an investment from Danny Meyer's special purpose acquisition company, USHG Acquisition Corp. (HUGS).
Disclosure: None