Initial IPO returns in the United States fluctuated between 2005 and 2023. Throughout the period considered, 2020 was the best year for first-day gains, amounting to ** percent. In 2023, the average first-day gain after an IPO in the U.S. was **** percent, as IPOs maintained their offering prices on their first day of trading.

2021 was quite a year for initial public offers (IPOs) in the United States, which was largely influenced by the significant rise in the number of special purpose acquisition companies (SPACs) who went public. In 2021, there were ***** initial public offerings (IPOs) in the United States. In 2022 and 2023, however, the number of IPOs dropped to *** and *** respectively. 2024 saw a rise in the number of IPOs, reaching *** by the end of the year. What does it mean to go public? The management of a private company has a lot of control over its operation, but raising funds from investors is more difficult. To access funds from regular investors, that is the general public, firms go public by offering stock shares at a certain price. As a result, these firms often have more capital to work with. An IPO can, and often does, raise ******** of dollars for a firm. However, publicly traded companies also face increased regulation and disclosure requirements. Staying private Some firms delay going public for a longer time, in spite of their increasing value. If their valuation goes above *********** U.S. dollars, these firms are called unicorns, and the highest valued unicorns are mostly based in the U.S. and China. Some firms, such as SpaceX, are still heavily investing in research and development projects, which shareholders often dislike due to low short-run dividends. At the moment, most unicorns are found in the technology sector, which is also the leading sector for IPOs in the United States. This indicates that investors consider this to be the industry most likely to see growth, and thus most worth investing in when companies go public.

The latest closing stock price for Alphabet as of June 18, 2025 is 173.86. An investor who bought $1,000 worth of Alphabet stock at the IPO in 2004 would have $68,661 today, roughly 69 times their original investment - a 22.39% compound annual growth rate over 21 years. The all-time high Alphabet stock closing price was 205.89 on February 04, 2025. The Alphabet 52-week high stock price is 207.05, which is 19.1% above the current share price. The Alphabet 52-week low stock price is 140.53, which is 19.2% below the current share price. The average Alphabet stock price for the last 52 weeks is 172.15. For more information on how our historical price data is adjusted see the Stock Price Adjustment Guide.

The median size of initial public offerings (IPOs) in the United States increased significantly in 2020. However, in 2023, the median IPO size reached 10 million U.S. dollars, a dramatic decrease compared to the previous years. This figure gives an idea of how willing speculators in the United States are to invest in a company going public, which is the process of being listed on a stock exchange for the first time. Who goes public? Most IPOs come from relatively new firms that have grown quickly. For example, the Alibaba Group Holding IPO was the largest IPO in the United States. This firm is a relatively new tech company overseen by Jack Ma, who had already generated billions in private funding before going public. However, Visa’s 2008 IPO occurred 50 years after the company’s founding, when it already had millions of credit cards in circulation. Still, the company had generated enough enthusiasm for its IPO to raise a record amount of money. Over and under the median The megadeals such as the Alibaba IPO are rare, though there is an increasing number of startup companies valued one billion U.S. dollars and over. While these raise the median value, the worst IPOs lower it. A successful IPO can lead to huge gains in valuation, the IPOs with the lowest return lose over half the company’s value.

The latest closing stock price for Microsoft as of June 18, 2025 is 480.24. An investor who bought $1,000 worth of Microsoft stock at the IPO in 1986 would have $8,056,718 today, roughly 8,057 times their original investment - a 25.94% compound annual growth rate over 39 years. The all-time high Microsoft stock closing price was 480.24 on June 18, 2025. The Microsoft 52-week high stock price is 481.00, which is 0.2% above the current share price. The Microsoft 52-week low stock price is 344.79, which is 28.2% below the current share price. The average Microsoft stock price for the last 52 weeks is 422.77. For more information on how our historical price data is adjusted see the Stock Price Adjustment Guide.

Korea Capital Raised: Case: Stocks: KRX: Stock Market: IPO data was reported at 0.000 Unit in Oct 2018. This records a decrease from the previous number of 3.000 Unit for Sep 2018. Korea Capital Raised: Case: Stocks: KRX: Stock Market: IPO data is updated monthly, averaging 0.000 Unit from Jan 1998 (Median) to Oct 2018, with 250 observations. The data reached an all-time high of 6.000 Unit in Nov 2015 and a record low of 0.000 Unit in Oct 2018. Korea Capital Raised: Case: Stocks: KRX: Stock Market: IPO data remains active status in CEIC and is reported by Financial Supervisory Service. The data is categorized under Global Database’s South Korea – Table KR.Z023: Korea Exchange: Capital Raised.

Not all IPOs result in long-term gains for the respective company; however, the average year-end gains for all companies that went public in the United States have been mostly positive each year over the past decade. In 2023, however, the average returns amounted to a negative 56 percent in the first year after their IPO.

The latest closing stock price for Exxon as of June 27, 2025 is 109.38. An investor who bought $1,000 worth of Exxon stock at the IPO in 1984 would have $41,833 today, roughly 42 times their original investment - a 9.60% compound annual growth rate over 41 years. The all-time high Exxon stock closing price was 122.12 on October 07, 2024. The Exxon 52-week high stock price is 126.34, which is 15.5% above the current share price. The Exxon 52-week low stock price is 97.80, which is 10.6% below the current share price. The average Exxon stock price for the last 52 weeks is 112.58. For more information on how our historical price data is adjusted see the Stock Price Adjustment Guide.

The share of initial public offerings (IPOs) in the United States closing above IPO price on the first day of trading fluctuated somewhat between 2008 and 2021. In 2021, one third of IPOs in the U.S. fell on day one of trading. The remaining 66.4 percent of IPOs closed above IPO price on debut. Based on the information regarding this time period, an average of around 31.4 percent of IPOs fell on the first day of trading in the United States between 2008 and 2021.

The latest closing stock price for Tesla as of June 17, 2025 is 316.39. An investor who bought $1,000 worth of Tesla stock at the IPO in 2010 would have $197,650 today, roughly 198 times their original investment - a 42.30% compound annual growth rate over 15 years. The all-time high Tesla stock closing price was 479.86 on December 17, 2024. The Tesla 52-week high stock price is 488.54, which is 54.4% above the current share price. The Tesla 52-week low stock price is 179.66, which is 43.2% below the current share price. The average Tesla stock price for the last 52 weeks is 291.40. For more information on how our historical price data is adjusted see the Stock Price Adjustment Guide.

The latest closing stock price for IPower as of June 25, 2025 is 0.63. An investor who bought $1,000 worth of IPower stock at the IPO in 2021 would have $-890 today, roughly -1 times their original investment - a -42.46% compound annual growth rate over 4 years. The all-time high IPower stock closing price was 8.35 on June 08, 2021. The IPower 52-week high stock price is 2.36, which is 274.6% above the current share price. The IPower 52-week low stock price is 0.41, which is 34.9% below the current share price. The average IPower stock price for the last 52 weeks is 1.01. For more information on how our historical price data is adjusted see the Stock Price Adjustment Guide.

The latest closing stock price for Bank Of America as of May 27, 2025 is 44.22. An investor who bought $1,000 worth of Bank Of America stock at the IPO in 1984 would have $30,631 today, roughly 31 times their original investment - a 8.79% compound annual growth rate over 41 years. The all-time high Bank Of America stock closing price was 47.44 on February 06, 2025. The Bank Of America 52-week high stock price is 48.08, which is 8.7% above the current share price. The Bank Of America 52-week low stock price is 33.06, which is 25.2% below the current share price. The average Bank Of America stock price for the last 52 weeks is 42.15. For more information on how our historical price data is adjusted see the Stock Price Adjustment Guide.

The latest closing stock price for Porch as of July 03, 2025 is 12.28. An investor who bought $1,000 worth of Porch stock at the IPO in 2020 would have $240 today, roughly 0 times their original investment - a 4.40% compound annual growth rate over 5 years. The all-time high Porch stock closing price was 25.66 on November 16, 2021. The Porch 52-week high stock price is 12.83, which is 4.5% above the current share price. The Porch 52-week low stock price is 1.05, which is 91.4% below the current share price. The average Porch stock price for the last 52 weeks is 4.80. For more information on how our historical price data is adjusted see the Stock Price Adjustment Guide.

At nearly ** billion U.S. dollars, the 2014 initial public offering (IPO) of Alibaba Group Holding Limited remains the largest IPO in the United States ever. Trailing by almost **** billion U.S. dollars, Visa takes second place, followed by ENEL SpA, an energy company based in Italy. What is an IPO? An IPO is when a private company offers shares to the public for the first time through a stock exchange. Companies do this to raise money, as seen with Alibaba. However, public companies are subject to more scrutiny, such as publishing quarterly reports for investors. Also, not all IPOs are profitable. A bad IPO can result in significant losses. Companies that could go public Unicorns are private companies valued over a billion U.S. dollars. Any of these could go public, raising significant funds. However, most IPOs are valued in the ********, not ********. The median deal size of these offerings in the United States tends to be a little more than *** million U.S. dollars. Investors keep a watch for the next IPO, since a strong offering means high returns for those who buy the stock early.

The latest closing stock price for ServiceNow as of June 17, 2025 is 1004.91. An investor who bought $1,000 worth of ServiceNow stock at the IPO in 2012 would have $39,850 today, roughly 40 times their original investment - a 33.03% compound annual growth rate over 13 years. The all-time high ServiceNow stock closing price was 1170.39 on January 28, 2025. The ServiceNow 52-week high stock price is 1198.09, which is 19.2% above the current share price. The ServiceNow 52-week low stock price is 678.66, which is 32.5% below the current share price. The average ServiceNow stock price for the last 52 weeks is 927.87. For more information on how our historical price data is adjusted see the Stock Price Adjustment Guide.

The latest closing stock price for Kyndryl Holdings as of June 26, 2025 is 41.79. An investor who bought $1,000 worth of Kyndryl Holdings stock at the IPO in 2021 would have $26 today, roughly 0 times their original investment - a 0.63% compound annual growth rate over 4 years. The all-time high Kyndryl Holdings stock closing price was 43.45 on February 05, 2025. The Kyndryl Holdings 52-week high stock price is 43.61, which is 4.4% above the current share price. The Kyndryl Holdings 52-week low stock price is 21.34, which is 48.9% below the current share price. The average Kyndryl Holdings stock price for the last 52 weeks is 31.56. For more information on how our historical price data is adjusted see the Stock Price Adjustment Guide.

The latest closing stock price for ON24 as of June 18, 2025 is 5.37. An investor who bought $1,000 worth of ON24 stock at the IPO in 2021 would have $-912 today, roughly -1 times their original investment - a -45.56% compound annual growth rate over 4 years. The all-time high ON24 stock closing price was 64.30 on February 09, 2021. The ON24 52-week high stock price is 7.04, which is 31.1% above the current share price. The ON24 52-week low stock price is 4.35, which is 19% below the current share price. The average ON24 stock price for the last 52 weeks is 6.00. For more information on how our historical price data is adjusted see the Stock Price Adjustment Guide.

The latest closing stock price for EBay as of June 18, 2025 is 77.53. An investor who bought $1,000 worth of EBay stock at the IPO in 1998 would have $103,165 today, roughly 103 times their original investment - a 18.78% compound annual growth rate over 27 years. The all-time high EBay stock closing price was 79.36 on June 09, 2025. The EBay 52-week high stock price is 79.84, which is 3% above the current share price. The EBay 52-week low stock price is 52.02, which is 32.9% below the current share price. The average EBay stock price for the last 52 weeks is 64.02. For more information on how our historical price data is adjusted see the Stock Price Adjustment Guide.

The latest closing stock price for Marathon Petroleum as of June 17, 2025 is 170.08. An investor who bought $1,000 worth of Marathon Petroleum stock at the IPO in 2011 would have $12,079 today, roughly 12 times their original investment - a 20.16% compound annual growth rate over 14 years. The all-time high Marathon Petroleum stock closing price was 213.36 on April 05, 2024. The Marathon Petroleum 52-week high stock price is 183.31, which is 7.8% above the current share price. The Marathon Petroleum 52-week low stock price is 115.10, which is 32.3% below the current share price. The average Marathon Petroleum stock price for the last 52 weeks is 155.18. For more information on how our historical price data is adjusted see the Stock Price Adjustment Guide.

The latest closing stock price for Hippo Holdings as of June 27, 2025 is 27.81. An investor who bought $1,000 worth of Hippo Holdings stock at the IPO in 2021 would have $-903 today, roughly -1 times their original investment - a -44.23% compound annual growth rate over 4 years. The all-time high Hippo Holdings stock closing price was 356.00 on February 16, 2021. The Hippo Holdings 52-week high stock price is 35.44, which is 27.4% above the current share price. The Hippo Holdings 52-week low stock price is 14.58, which is 47.6% below the current share price. The average Hippo Holdings stock price for the last 52 weeks is 23.69. For more information on how our historical price data is adjusted see the Stock Price Adjustment Guide.