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News Link • Economy - Economics USA

"A Curious Divergence": Despite The IPO Bubble, The "Tech Epicenter"...

•, By Tyler Durden

On Friday, online luxury consignment retailer The RealReal, Inc. (REAL on the Nasdaq) made its public debut in style, jumping 45% from its IPO price of $20 a share. Valued at $1 billion in a Series H funding round in March, San Francisco-based RealReal, which was founded in 2011 by Julie Wainwright, former CEO of (which famously liquidated nine months after its February 2000 IPO), now commands a $2.1 billion price tag.

RealReal's experience caps off a bountiful second quarter for U.S. IPOs, which included 62 debuts raising $25 billion according to Renaissance Capital, LLC. That's the second-best showing in terms of proceeds since 2000. As per tradition, early investors got the worm, with the average IPO return for the quarter clocking in at 30%. Poor showings from ride-share unicorns Uber Technologies, Inc. and Lyft, Inc. were decidedly in the minority, with surges from the likes of Beyond Meat, Inc., Chewy, Inc. and Slack Technologies, Inc. (up 500%, 50% and 40%, respectively) more representative of current zeitgeist. More big names are on the way, with WeWork Cos. Inc., Peloton, Inc. and Postmates, Inc. having filed relevant paperwork with the Securities and Exchange Commission.

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