Nasdaq Rings in the New Year Celebrating its 2021 Listings Dominance
With the largest IPO in the U.S. by proceeds raised, the largest direct listing in Nasdaq history and the largest global ex-U.S. combination in history, Nasdaq had a record-breaking year, welcoming a record 743 initial public offerings (IPOs) in 2021, raising a total of $180 billion. Nasdaq also surpassed NYSE in listings, extending its dominance for the 32nd quarter with a 76%-win rate in the U.S. market.
As we head into 2022, Nasdaq is closing out this year with a look at some of its top listings highlights and efforts to continue bringing premier companies to the exchange into 2022.
1. Largest U.S. IPO by Proceeds Raised in 2021
Hitting the market in the fourth quarter, Rivian (RIVN), an electronic vehicle manufacturer backed by powerhouses like Amazon (AMZN) and Ford (FORD), broke records, raising $12 billion in its debut, becoming the largest IPO by proceeds raised in the U.S. for 2021. Rivian joined 7 of the top 10 IPOs by proceeds raised this year—all companies that chose Nasdaq, including GlobalFoundries (GFS) raising $2.6 billion, Bumble (BMBL) raising $2.2 billion, Robinhood (HOOD) raising $2 billion, Applovin (APP) raising $2 billion, Shoals Technologies (SHLS) raising $1.9 billion and Playtika (PLTK) raising $1.9 billion.
2. Largest Direct Listing in Nasdaq History
Direct listings were an emerging trend in 2021, with Coinbase (COIN), the largest cryptocurrency exchange in the U.S., becoming Nasdaq’s largest direct listing ever. Other honorable mentions include Amplitude (AMPL), a leading digital optimization software.
3. Largest Global Ex-U.S. Combination in History
The pandemic ushered in a slew of SPACs, with the first quarter of 2021 seeing an average of 100 SPAC listings per month across Nasdaq and the NYSE. The largest combination by far came just before the new year with Grab’s acquisition by Altimeter Growth Corp (AGC), a Nasdaq-listed company. The listing raised $4.5 billion via private investment in public equity (PIPE) and put Southeast Asia on the map for competitive investment opportunities.
4. Female Powerhouses
While it was a record-breaking year for IPOs, it was also a year for breaking the glass ceiling. With companies like Bumble (BMBL), Rent the Runway (RENT) and Vimeo (VMEO) listing on Nasdaq in 2021, over 50 companies led by women tapped Nasdaq to enter the public markets this year. Here are a few highlights:
- Bumble (BMBL), run by Whitney Wolfe Herd
- Rent the Runway (RENT), run by Jennifer Hyman
- 23and Me (ME), run by Anne Wojcicki
- Vimeo (VMEO), run by Anjali Sud
- Olaplex (OLPX), run by JuE Wong
5. The Big Switches
This year, 35 companies switched their listing from the NYSE to Nasdaq, representing over $360.4 billion in market cap. Many of these companies were already using Nasdaq's investor relations solutions, seeing the advantages of a tech-focused, future-forward exchange.
Speaking with Cheddar about Nasdaq’s listings success, Jeff Thomas, Senior Vice President of Western U.S. Listings, said, “Coming into this year, who knew what to expect? But we had a strong equity market last year, and we doubled everything this year…So, it's been a really exciting time at Nasdaq.”
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