Square’s IPO was a mixed bag. The shares were underpriced at $US9, and finished the day at $US13 — the upper end of where Square originally priced them. Although the company’s valuation was slashed from the $US6 billion that late-stage investors valued it at a year ago, those investors still made a killing.
But the real purpose of going public is to raise money for continuing operations. Square’s IPO was smaller than a lot of other high-profile tech IPOs of the last 5 years, as this chart from Statista shows. Square raised $US243 million, while Match, which also went public today, raised $US400 million. But the big winner in the IPO market has to be Alibaba, which raised $US25 billion when it went public last year.
NOW WATCH: Tech Insider videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.