I was researching Xero for an article and saw that it IPO'd within year 1.
It's very unusual. Usually, it takes 8-10 years to go public and up to 9 months to prepare for IPO.
I've decided to research if there any other examples like that and found a few:
1/ Xero: accounting soft
• Founded: 2006
• IPO: 2007
It IPO'ed soon because it needed $15M for growth, but there wasn't any VC ecosystem in New Zealand yet.
Today's revenue: $880M
2/ Lotus Software. Famous for Lotus 1-2-3 spreadsheet application.
• Founded: 1982
• IPO: 1983
It did $50M in sales in its first year, and IPO'd to fund its growth. In 1995, IBM acquired it for $3.5B
3/ Axovant: Biotech
• Founded by Vivek Ramaswamy in 2014
• IPO: 2015
The company bought an old Alzheimer's drug from GSK for $5M. They raised $350M in the IPO, assuring the drug is a life-saver.
But the drug failed, so the stock crashed by 99%.
4/ Netscape: browser
• Founded: 1994
• IPO: 1995
It took Netscape 10 months after their product launch (16 months from founding) to IPO. In 1998, AOL acquired it for $4.2B
Some say, Jim Clark, the co-founder, IPO'd soon because he wanted to build a big yacht. It's gorgeous, btw.
5/ Vici Properties: Real estate investment firm
• Founded: 2017
• IPO: 2018
They own & operate 124M sq ft. properties, including casinos, restaurants, bars, and more.
Today's revenue: $3.3B
6/ MGM Growth Properties: Real Estate Investment firm
• Founded: 2015
• IPO: 2016
It had a whole or majority ownership of 15 properties. In 2022, Vici Properties acquired it for $17.2 B
7/ Intrepid Potash: chemical manufacturing
• Founded: 2007
• IPO: 2008
They luckily raised $960M just before the 2008 global financial stock crash.
Market Cap: $340M (overall, the stock is down by 95%)
8/ Chimera Investment: Real estate investment firm
• Founded: June 2007
• IPO: November 2007
They raised $499.5M and today's revenue is only $92M,
Overall, the stock is down by 92%.
1/ Xero: accounting soft • Founded: 2006 • IPO: 2007 It IPO'ed soon because it needed $15M for growth, but there wasn't any VC ecosystem in New Zealand yet. Today's revenue: $880M
2/ Lotus Software. Famous for Lotus 1-2-3 spreadsheet application. • Founded: 1982 • IPO: 1983 It did $50M in sales in its first year, and IPO'd to fund its growth. In 1995, IBM acquired it for $3.5B
3/ Axovant: Biotech • Founded by Vivek Ramaswamy in 2014 • IPO: 2015 The company bought an old Alzheimer's drug from GSK for $5M. They raised $350M in the IPO, assuring the drug is a life-saver. But the drug failed, so the stock crashed by 99%.
4/ Netscape: browser • Founded: 1994 • IPO: 1995 It took Netscape 10 months after their product launch (16 months from founding) to IPO. In 1998, AOL acquired it for $4.2B Some say, Jim Clark, the co-founder, IPO'd soon because he wanted to build a big yacht. It's gorgeous, btw.
5/ Vici Properties: Real estate investment firm • Founded: 2017 • IPO: 2018 They own & operate 124M sq ft. properties, including casinos, restaurants, bars, and more. Today's revenue: $3.3B
6/ MGM Growth Properties: Real Estate Investment firm • Founded: 2015 • IPO: 2016 It had a whole or majority ownership of 15 properties. In 2022, Vici Properties acquired it for $17.2 B
7/ Intrepid Potash: chemical manufacturing • Founded: 2007 • IPO: 2008 They luckily raised $960M just before the 2008 global financial stock crash. Market Cap: $340M (overall, the stock is down by 95%)
8/ Chimera Investment: Real estate investment firm • Founded: June 2007 • IPO: November 2007 They raised $499.5M and today's revenue is only $92M, Overall, the stock is down by 92%.