A Comprehensive Review of Companies That Had Their IPO in 2019: Winners and Lessons Learned

The year 2019 marked a transformative moment in capital markets, as companies that had their IPO in 2019 captured investor attention across multiple sectors. After years of private funding dominance, 2019 delivered a surge of public offerings that would define the broader investment landscape. With substantial capital available in private equity markets, numerous emerging companies had previously resisted going public to avoid regulatory scrutiny and market pressure. However, 2019 changed this calculus, bringing forward some of the most eagerly anticipated public debuts—alongside cautionary tales that reshaped investor expectations.

The Standout Successes Among 2019 IPOs

Beyond Meat’s Exceptional Trajectory

Among all companies that had their IPO in 2019, Beyond Meat emerged as the clear winner. The plant-based meat innovator entered public markets in early May at $25 per share, but the story that followed exceeded even bullish projections. Strategic partnerships with major fast-food chains—offering plant-based alternatives to traditional beef, chicken, and pork—created explosive momentum. The stock rocketed to $240 by late summer, representing a staggering 860% surge from the offering price. Though a subsequent pullback brought shares to around $146, the company’s valuation approached $9 billion, still delivering nearly 500% gains to early investors within just three months.

Strong Performers: Zoom and Pinterest Lead the Pack

Not all companies that had their IPO in 2019 struggled with post-debut volatility. Zoom Video Communications debuted in June at $65 per share and demonstrated consistent strength, climbing to $107 before settling in the $95 range—a solid 45% return. Meanwhile, Pinterest’s simultaneous June launch proved more erratic, though ultimately resilient. Selling 75 million shares at $19 each, the social platform fluctuated throughout the year but never dipped below its offering price. By year’s end, Pinterest traded at $32.50, pushing the company’s valuation beyond $17 billion.

Tradeweb’s Steady Ascent

Electronic trading platform Tradeweb, spun out from private equity owner Blackstone, followed a different path. Adjusting both offering price and share count upward in pre-IPO preparations, the company gained 67% from its $27 debut price to approximately $45 per share—demonstrating that not all 2019 IPOs experienced dramatic volatility.

Disappointing Performance: When IPO Companies Underperform

Uber and Lyft’s Harsh Reality

The ride-sharing sector, once viewed as unstoppable, delivered a sobering lesson to 2019 IPO investors. Both Uber and Lyft entered public markets as household names backed by prestigious venture capitalists including Japan’s SoftBank, Saudi Arabia’s Public Investment Fund, and wealthy tech titans like Amazon’s Jeff Bezos and Napster founder Shawn Fanning. Yet the market’s reception proved brutally indifferent. Uber declined 22% from its IPO price, while Lyft plummeted 26%—a stark reversal for companies that had raised billions privately.

The underlying problem became evident: these businesses continued posting massive losses. Uber’s financial hemorrhaging appeared particularly severe, while Lyft faced additional pressure when executives accelerated the lockup expiration schedule, allowing early investors and company insiders to begin selling shares into public markets. This triggered additional selling pressure precisely when investor confidence wavered.

Levi’s Faltering Momentum

Levi Strauss, the iconic American apparel maker, achieved early success when it went public in March at $17 per share, rallying to $23 for a 35% gain. However, disappointing quarterly earnings derailed the narrative, and the stock retreated toward its offering price. The company’s revival story, while compelling, proved insufficient to overcome market skepticism about mature apparel manufacturers.

Mixed Results in the 2019 IPO Landscape

The divergent fates of 2019 IPO cohort companies revealed a critical market truth: the era of easy money in venture funding had largely concluded before these companies ever reached public markets. Companies like Uber and Lyft had already distributed substantial returns to private investors—venture capitalists, early-stage funding rounds, and strategic shareholders. Public market participants, entering at lofty valuations after years of private funding, discovered limited upside potential.

This dynamic fundamentally challenged the traditional IPO narrative. Rather than representing the beginning of a growth story, many 2019 public debuts marked the epilogue of an already-mature private funding cycle. Investors expecting the outsized returns characteristic of younger-stage companies encountered well-established enterprises already trading at significant multiples.

Looking Ahead: Highly Anticipated Companies Seeking IPO Status in 2019

As 2019 progressed, speculation mounted about other companies that had their IPO in 2019 or were preparing filings. The We Company, commonly known as WeWork, pursued valuations exceeding $45 billion, though its unconventional business model sparked debate. Short-term lodging disruptor Airbnb, exercise equipment manufacturer Peloton, food delivery specialist Postmates, and zero-commission brokerage Robinhood all filed regulatory paperwork signaling their intentions to go public.

One particularly intriguing potential listing involved Cliintel Capital, preparing a groundbreaking offer: a vertically integrated cannabis business that would become the first domestic U.S. cannabis company to trade on major American exchanges. Historically, NYSE and NASDAQ prohibited direct cannabis involvement, citing federal law conflicts. Though the offering size would remain modest compared to tech giants, successful listing would represent a watershed moment, allowing American investors legitimate exchange-traded exposure to branded cannabis products through a domestic company.

Saudi Aramco, the Saudi government-controlled oil giant, also signaled eventual public market intentions. Although timing remained uncertain, market observers recognized it would potentially become not merely history’s largest IPO but immediately leap into contention as the world’s most valuable enterprise, with valuations potentially approaching $2 trillion.

A Transformative Tech Mega-Trend Emerging from 2019 IPOs

Beneath these individual company narratives lay a broader market phenomenon. A specific technology sector generated $8 billion in global revenues during the year preceding 2019’s IPO wave. Projections suggested this domain would mushroom to $47 billion by 2020—more than quintupling in growth. Prominent investor Mark Cuban predicted the sector would eventually produce “the world’s first trillionaires,” suggesting that early investors making strategic allocations could potentially capture substantial wealth creation alongside the individuals building these companies.

For investors navigating 2019’s IPO landscape, the lesson crystallized: success required distinguishing between genuine growth stories and mature businesses already extensively capitalized in private markets. The companies that had their IPO in 2019 ultimately sorted into clear categories—breakout successes like Beyond Meat, steady performers like Zoom, and disappointing underperformers like Uber and Lyft—demonstrating that public market timing and valuation remain paramount considerations for wealth creation.