Bumble – the dating industry has a rosy future.
Shares of Bumble, a U.S-based dating app operating in 150+ countries, closed 63.5% higher on its #IPO day – February 11. Bumble went public on Nasdaq.
The stock began trading up nearly 77% at $76 per share under the ticker “BMBL.” The company priced its shares at $43 apiece, above its target range of $37 to $39, and sold 50 million pieces. Eventually, Bumble closed the trading day after reaching a market cap of about $7.7 billion, more than its target of $7 billion.
Since then, the stock has somewhat cooled off, trading at around $68/share as of March 23.
The Bumble IPO marked an important milestone for Wall Street: its founder Whitney Wolfe Herd became the world’s youngest female Billionaire at 31 years of age.
Kuaishou – TikTok’s rival impresses at stock market debut.
Kuaishou, a Chinese video app, also completed a massive initial public offering in Hong Kong at the beginning of February. The app is the biggest rival for Douyin, TikTok’s Chinese version.
Kuaishou’s shares opened in Hong Kong on Friday at HK$338 ($43.6) apiece, almost three times higher than its IPO price of HK$115 ($14.8). That result catapulted the company’s market cap to nearly HK$1.4 trillion ($180 billion). Kuaishou pocketed approximately $5.4 billion, offering for sale a total of more than 365 million shares. Eventually, the company settled for a 161% first-day gain, the second-best debut ever for an IPO over $1 billion in the world, according to Bloomberg.
As of March 23, Kuaishou shares trade at approx. HK$301/apiece (almost $39).
Roblox – it’s all fun and games indeed!
The fast-growing online gaming platform Roblox smashed past records when it went public via a #Direct #Listing on the New York Stock Exchange. The Roblox IPO was the first direct listing this year. Crypto exchange Coinbase also filed for a direct listing, and it's currently scheduled to trade on Nasdaq in April.
On its first day of trading, on March 10, Roblox stock surged 54.4%, closing at $69.50. Shares climbed another 6.3% on Thursday, closing at $73.90 on the stock market. As a result, the company’s market valuation shot up to $39.5 billion.
According to Sensor Tower data, "Roblox" was the biggest mobile game of 2020 in the United States in terms of revenue. It surpassed legendary "Candy Crush," the top game for the past three years.
Sources: cnbc.com, investors.com, techcrunch.com, Bloomberg.