Spotify's public market debut is on par with the largest VC-backed IPOs of the decade

April 3, 2018

Spotify began its first day of trading as a public company at $165.90, up from the NYSE's estimated price of $132 per share set on Monday. Initial trades gave the music streaming company a $30 billion market cap, though it closed its first trading day with a $26.5 billion market cap on shares that closed at $149.01 apiece.

The music streaming giant's ferocious debut was the second largest this decade for a formerly venture capital-backed company. Indeed, it trails only Facebook, which hit the public markets in 2012.

Here's where Spotify's direct listing stacks up against the largest VC-backed IPOs by initial market cap since 2010.

1. Facebook [NASDAQ: FB]

Date of IPO: May 18, 2012
Initial market cap: $81.3 billion
Initial share price: $38
Capital raised in IPO: $16 billion
Current market cap: $466.3 billion
Headquarters: Menlo Park
Founded: 2004

For more on Facebook, visit its free profile.

2. Spotify [NYSE: SPOT]

Date of debut: April 3, 2018
Initial market cap: $29.5 billion
Initial share price: $165.9
Capital raised: $0
Headquarters: Stockholm
Founded: 2006

For more on Spotify's direct listing, view our datagraphic and our analysis of the company's exit.

3. JD.com [NASDAQ: JD]

Date of IPO: May 21, 2014
Initial market cap: $26 billion
Initial share price: $19
Capital raised in IPO: $1.8 billion
Current market cap: $57.5 billion
Headquarters: Beijing
Founded: 1998

For more on JD.com, visit its free profile.

4. Snap [NYSE: SNAP]

Date of IPO: March 2, 2017
Initial market cap: $19.7 billion
Initial share price: $24
Capital raised in IPO: $3.4 billion
Current market cap: $18.9 billion
Headquarters: Los Angeles
Founded: 2010

For more on Snap, visit its free profile.
 
Snap IPO: Evan Spiegel during the company's public offering. (NYSE)

5. Twitter [NYSE: TWTR]

Date of IPO: November 7, 2013
Initial market cap: $14.2 billion
Initial share price: $26
Capital raised in IPO: $1.8 billion
Current market cap: $21.4 billion
Headquarters: San Francisco
Founded: 2006

For more on Twitter, visit its free profile.

6. Groupon [NASDAQ: GRPN]

Date of IPO: November 4, 2011
Initial market cap: $12.8 billion
Initial share price: $20
Capital raised in IPO: $700 million
Current market cap: $2.4 billion
Headquarters: Chicago
Founded: 2008

For more on Groupon, visit its free profile.

7. Dropbox [NASDAQ: DBX]

Date of IPO: March 23, 2018
Initial market cap: $9.2 billion
Initial share price: $29
Capital raised in IPO: $756 million
Current market cap: $12.9 billion
Headquarters: San Francisco
Founded: 2007

Here's more on Dropbox's recent IPO.
 
Dropbox CEO Drew Houston on the day of the company's public offering. (NASDAQ)

8. Rocket Internet [ETR: RKET]

Date of IPO: October 1, 2014
Initial market cap: $8.2 billion
Initial share price: $52
Capital raised in IPO: $2 billion
Current market cap: $4.9 billion
Headquarters: Berlin
Founded: 2007

For more on Rocket Internet, visit its free profile.

9. Qudian [NYSE: QD]

Date of IPO: October 18, 2017
Initial market cap: $7.9 billion
Initial share price: $24
Capital raised in IPO: $900 million
Current market cap: $3.9 billion
Headquarters: Beijing
Founded: 2014

For more on Qudian, visit its free profile.

10. Zynga [NASDAQ: ZNGA]

Date of IPO: December 16, 2011
Initial market cap: $7 billion
Initial share price: $10
Capital raised in IPO: $1 billion
Current market cap: $3.1 billion
Headquarters: San Francisco
Founded: 2007

For more on Zynga, visit its free profile.
 

Related read: The key numbers behind Spotify's highly anticipated direct listing [datagraphic]

An analysis of Spotify's direct listing

 

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