In terms of proceeds and deal flow, 2018 has been a standout year in the IPO market. The year's 185 IPOs have raised almost $45 billion, more than 20% higher than this time last year on both counts. The billion-dollar unicorn club featured well-known names like Dropbox (DBX), DocuSign (DOCU) and Eventbrite (EB). Assuming the broader market holds up, next year looks like it can be even bigger.
Despite the strong market in 2018, no US tech company went public with a $10 billion valuation. At least five are reportedly readying 2019 IPOs, including Uber, which could be the largest US tech company ever to go public.
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Slack
Valued at $7.1 billion in August, workplace messaging app Slack has been preparing an IPO for years, and earlier this year hired a CFO. In September, the WSJ reported that the company's IPO was on track for the first quarter of 2019.
Levi Strauss & Co.
Founded in 1853, jean maker Levi Strauss reportedly hired Goldman Sachs as it looks to raise between $600 and $800 million in a first quarter IPO that could value the company as high as $5 billion. In 2017, the company boasted its highest revenue growth in a decade, up 7.0% year-over-year to $4.9 billion, with $284 million in free cash flow.
Robinhood
Backed by some of Silicon Valley's biggest VCs (Sequoia, NEA, Kleiner Perkins), Robinhood has rapidly become a major online brokerage among millennials by offering free trades on its easy-to-use app. Instead of fees, the company earns interest on cash in its accounts, as well as premium subscriptions. Last valued at $5.6 billion, the company recently hired a CFO and affirmed its plans for an IPO.
Peloton Interactive
Valued at more than $4 billion this year, interactive stationary bike maker Peloton made several advances toward an IPO this year. The company hired a CFO in April, then raised money at a $4+ billion valuation in August, before CEO John Foley stated his intentions to take the company public in 2019.
CloudFlare
CloudFlare is reportedly seeking an IPO in the first half of 2019 that could value it at $3.5 billion. Several cybersecurity plays have had strong IPOs in 2018, including Zscaler and Tenable.
