The biggest IPO in American tech history is not Apple or Amazon, but a Chinese company

Grab is about to have a record IPO on the US stock exchange after passing the merger process with an American company SPAC (a special purpose company). This is a technology super unicorn operating in the field of transporting goods, passengers and financial services in Southeast Asia.

Grab is currently valued at $ 39.6 billion and has the opportunity to step into the biggest IPOs in American tech history.

Alibaba

Amazon’s Chinese rival, Alibaba entered the United States early. On September 18, 2014, Alibaba went on the New York Stock Exchange and earned $ 25 billion at a valuation of $ 231 billion on the first day of raising capital, becoming the largest IPO deal in the history of the world, by the IPOs of Facebook, Google and Twitter combined.

CEO Jack Ma celebrates the day Alibaba set a record for IPO in the US.

However, this comparison is somewhat unfair because billionaire Jack Ma’s Alibaba is a technology company that operates in many areas from e-commerce, retail to cloud computing, fintech and the above services. Other Internet backgrounds.

Alibaba’s share price at IPO was $ 92 when it is now up to $ 245.

Facebook

Not Amazon or Apple, social networking site Facebook is the record holder for the largest IPO in history for an American technology company.

For years, young Mark Zuckerberg rejected Yahoo’s $ 1 billion solicitations for billions of dollars in 2006. In order to counter the takeover of outside rivals, Zuckerberg was forced to come to a decision not How else is an IPO.

It was at the beginning of February 2012 that Zuckerberg reached favorable agreements to maintain twice the voting power of Facebook shares, a major step forward before Facebook became a public company.

The historic photo shows CEO Mark Zuckerberg celebrating Facebook’s victory on the IPO day with his employees.

Before the IPO, Facebook shares created a strong fever among investors and was assessed by analysts to peak on the first day of trading.

As a result, on May 18, 2012, Facebook went on the Nasdaq with a record-time capitalization of $ 104 billion, ending the session at $ 38. Facebook raised $ 16 billion in the IPO, compared with expectations of just $ 5 billion. That figure just lost to the record of financial services company Visa, when it raised $ 17.9 billion on the first day of its IPO in 2008, the largest in the history of US companies.

Today, with a stock value of $ 312, people can return eight times the amount they spent buying Facebook shares at the time of the IPO.

Uber

Grab has a chance to step into this third place, because this is the ranking held by the same opponent that Grab defeated in Southeast Asia.

Despite being knocked out overseas, Uber is still occupying a dominant market share in the US during a raging Covid-19 season that causes American companies to suffer.

Moreover, the merger with Grab in Southeast Asia in 2018 has created a good premise for Uber to fully focus on the US market. On May 8, 2019, Uber officially became a public company through an IPO on the New York Stock Exchange.

There was no victory for Uber on the IPO day, but CEO Dara Khosrowshahi could still smile with satisfaction.

Although still bringing in $ 8.1 billion to the company, Uber’s IPO date is seen as a failure when the stock value falls by nearly 8% compared to the asking price of $ 45. The company also disappointed investors when it did not reach the expected market capitalization of $ 120 billion.

Shortly thereafter, Uber underwent more reforms and layoffs to reduce the cost burden that has been burdened for many years. And with the mergers & acquisitions going through the next phase, Uber’s stock is currently hovering around the $ 60 mark.