Twilio is set to be the first big tech IPO of 2016, ending the drought that has had some investors worried.
The relatively low-key company is in the business of sending texts and enabling phone calls for other companies like Uber and Airbnb. If Twilio does well, it could potentially break the ice and lead to a wave of tech companies going public.
The last tech company to go public was the China Online Education Group which priced its IPO earlier this month at $19.00. Share prices have risen since then to Tuesday's close of $23.05.
Some of the more notable IPOs of the last year haven't fared as well.
Twilio is said to be worth more than $1 billion, and all eyes will be on it as it begins its first day of trading Thursday.
Read on to find out about six notable recent tech IPOs and how those companies have performed so far.
All pricing data used below was provided by Dealogic.
Box Inc.
Box is a cloud-storage competitor to Dropbox. The company went public in January 2015, and hasn't done very well since then. After reporting better than expected earnings in June, the company's shares tanked due to not-so-great guidance.
Aaron Levie, the CEO of Box, is known as a bit of a wonder kid in Silicon Valley. He founded Box when he was just 20 years old.
Initial Offer: $14.00
First Day Closing Price: $23.23
Last Closing Price: $11.52 (~49.5% decrease)
Etsy Inc
Etsy is an online marketplace for makers. You can buy everything from knitted scarves to hand-crafted wooden toys on the site.
The company went public in April 2015, and has not performed well since doing so. After Amazon announced it was creating a marketplace for handmade goods, shares of Etsy tumbled.
It does have a really neat office though.
Initial Offer: $16.00
First Day Closing Price: $30.00
Last Closing Price: $9.75 (~67% decrease)
Fitbit Inc
Fitbit is one of the biggest forces in the quantified-self movement. The wearables company is such a popular brand that the President of the United States is known for regularly wearing one.
Unfortunately for the company, some investors have doubts about its continued success. Recent guidance was lower than expected, which sent share prices lower.
Initial Offer: $20.00
First Day Closing Price: $29.68
Last Closing Price: $13.50 (~61% decrease)
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