Even a global pandemic can’t slow the US IPO market down. After slowing to a trickle in March, public listings roared back and are now on pace to reach their highest levels since the peak of the dot-com boom in 2000.
If 2020 maintains its feverish IPO pace, it’ll be thanks in large part to expected listings from buzzy tech firms like Palantir, DoorDash, and Airbnb. The vacation rental company was flirting with an IPO before the pandemic, back when its valuation was north of $30 billion. After coronavirus cratered international travel, the company was forced to lay off a quarter of its workers and borrow $1 billion against a new $18 billion valuation—but even so, Airbnb and its similarly hobbled peers are still on their way to an IPO market hungry for tech offerings.
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