In 2019, 160 IPOs raised $46.3 billion, down from 2018 by deal count but in line on proceeds. Large tech unicorns like Uber, Lyft, and Pinterest finally went public, while biotechs again made healthcare the top sector. Despite the negative headlines produced by the unicorn reckoning, strong overall returns have teed up an active 2020. With every IPO requiring at least two legal firms, one for issuers and one for underwriters (and some hiring as many as nine), 2019 saw 440 legal engagements with 140 law firms.
View our Report on The Most Active Legal Firms of the 2019 IPO Market 
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