It’s been a busy year for IPOs, with big names like Uber, Pinterest, and Slack all making their market debuts.
It’s also been a year of mixed fortunes for public offerings. Some companies, like video conferencing startup Zoom Technologies are trading well above their opening price. Others, like ride-hailing company Lyft, have been underwater since Day One.
As we move into the final months of 2019, two more big names are expected to float shares to the public: Coworking startup WeWork and connected fitness company Peloton. Both are valued well north of $1 billion, the traditional unicorn mark, but have yet to turn a profit in a widely competitive market.
In WeWork’s case, there’s already an incredible amount of skepticism surrounding the business and indications that it will IPO at a valuation significantly below where it was valued in the private markets.
If WeWork goes public at a lower valuation, it would enter the market in an enfeebled state. But at least it wouldn’t be alone.
Here’s the list of injured tech companies that have jumped into the public markets in 2019 and come out on a stretcher. There’s no reason these companies won’t be able to turn things around, but they’ve got a lot of ground to make up with investors.