Uber and Pinterest are both expected to follow Lyft's IPO with their own public debut on the NYSE in April, making 2019 the year that some of the most valuable VC-backed companies will smash records set during the height of the dot-com era.
Already, 2019 is on track to become the year that some of the most valuable VC-backed companies smash records set during the height of the dot-com era. Four companies in particular — Lyft, Uber, Pinterest and Airbnb, also known as LUPA — dominate the headlines as the first high-profile deals of the mobile-app generation to go public.
Lyft, now valued at roughly $30 billion, began trading on the Nasdaq Friday morning at $87.24 per share, 21 percent above its original IPO price of $72 per share. Uber filed confidentially with the SEC last December and is expected to list on the New York Stock Exchange this month with a reported valuation of $120 billion. Pinterest filed its S-1 in March with a private valuation of $12 billion and is also expected to make its public debut on the New York Stock Exchange this month.
"There's only a few companies that can swallow the kind of valuations that have to happen when you look at the overall number of venture-backed start-ups today," said Jeff Grabow, a Silicon Valley VC with more than 20 years of experience."In terms of maximizing profit, the IPO is still the rational goal."Lyft isn't concerned with offering cheaper rides than Uber
The appetite for tech and the overhang of rising VC-backed start-ups is something that Grabow has paid close attention to over the past several years."Right now it's like we're in the middle of a gold rush and everybody's staking their claim," he said."The smart entrepreneurs and investors are making sure that the companies they've backed have all the resources they need to strike gold, because you never know when the access to those resources are going to go away.
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