Tech IPOs Scoring Higher Valuations in 2019 Than 2018

This year’s spate of tech IPOs has produced some misses, like Uber and Lyft, and some big hits like Zoom Video. But what was the overall pattern in the first half of the year?

Despite the increased number of offerings, the average returns of IPOs so far this year mirror the impressive gains seen in the first half of 2018. And measured as a multiple of revenue, valuations for this year’s class are generally higher than last year’s, our calculations show.