Snowflake leads a list of high-profile tech companies in filing IPOs

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A list of high-profile software companies filed to go public on Monday. They include big names like Snowflake, Asana, Unity Software, JFrog, and Sumo Logic. This selection of Bay Area software companies with multi-billion-dollar valuations, all rushed in a move signifying to the markets that they are ready to be welcomed.

It also marked this Monday as one of the IPO market’s busiest days with so many filings simultaneously.

  • Asana is a workplace productivity startup under the leadership of Facebook co-founder, Dustin Moskovitz. It filed for a direct listing instead of the traditional IPO. Asana has been operating on the secondary market with a valuation of about $5 billion.
  • Snowflake had a funding round in February, revealing its value to be around $12.4 billion. It opted for the traditional IPO. In its filing, it revealed losses that doubled to about $348.5 million for the fiscal year that ended in January 31st.
  • Unity Software, is a platform for video game developers that is led by the former Electronic Arts CEO John Riccitiello. It filed to go public on the NYSE. The company filings state that more than half of the top 1000 games on Apple App Store and Google Play Store, were made on their platform. It reported that it lost $54.1 million on revenue of $351.3 million for the first half of this year.
  • JFrog rounds up the prominent IPO filings by tech companies. It is a California-based platform for software developers. In the first half of 2020, the company lost about $426,000 on $69.3 million in sales. Because of the pandemic, the company reported that they are experiencing slowing growth and expect a decline in new customers and lowered demand from current customers.

Other companies could start filing their IPOs soon too. Last year, companies like Zoom, Crowdstrike, Slack and Pagerduty went public.