PrivCo's Top 10 IPO Candiates for 2015

Top 10 IPO Candidates 2015

January 29th, 2015

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Private Company Financial Intelligence© 2015 PrivCo. All Rights Reserved

PrivCo’s 2015 Top 10 IPO Candidates

PrivCo chooses its Top 10 IPO candidates based on a comprehensive analysis which takes into account multiple factors affecting the top pre-IPO companies on the market today. Among a multitude of other information PrivCo chooses candidates based upon (but not limited to)

Current funding rounds Most current year revenues Company partnerships and potential revenue generators Investor holding periods (time & amount)

This year the top company was Uber which received over $3.4 Billion in funding, more than doubling funding numbers for its next closest competitor on the list (SpaceX).

About the PrivCo Top 10 IPO Candidates PrivCo Top 10 IPO Candidate Winner

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Uber Tech

nologies, Inc.

Space

Exploration Tech

nologies Corp.

Palantir Tech

nologies, Inc.

Dropbox, Inc.

Bloom Energy Corporation

Cloudera, Inc.

Surve

yMonke

y Inc

Airbnb, In

c.

Chobani, Inc.

Square, In

c.$0

$500,000,000

$1,000,000,000

$1,500,000,000

$2,000,000,000

$2,500,000,000

$3,000,000,000

$3,500,000,000

$4,000,000,000

$4,500,000,000

Funding to Revenue Proportion

Revenue Funding

$ Millions (USD)

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$0 $300,000,000 $600,000,000 $900,000,000 $1,200,000,000 $1,500,000,000 $0

$500,000,000

$1,000,000,000

$1,500,000,000

$2,000,000,000

$2,500,000,000

$3,000,000,000

$3,500,000,000

$4,000,000,000 Company Funding to Revenue field comparison

Revenue $ Millions (USD)

Funding $ Millions

(USD)

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While Uber's massive valuation, competitors like Lyft and Sidecar, and recent regulatory issues will undoubtedly create intense pressure for the firm, it will be hard for investors to bet against a company who has experienced the tremendous growth that Uber ($2 Billion raised at $40 Billion valuation in 2014) has had over the last 2 years.

Uber Technologies is a private car service that allows drivers and passengers to connect via a mobile application. The company offers pricing based upon the type of car requested, current demand, and also offers fixed rates to certain destinations.

IPO Prospects

Uber, [UBERP], San Francisco, CA, USA

1 – Founding rounds Based upon estimates and press release at time of publication2 – Investors based public information at time of publication

Executive Summary Pertinent Financial & Funding1 2013

Revenue $765,000,000Total Funding to

Date$3,410,640,000

Top Investors to the Company2

Investor: Fidelity Investments William Morris Endeavor

EntertainmentBenchmark TPG Capital

Google Ventures Menlo VenturesSigma Partners Jeff Bezos

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Although Elon Musk, the firm's CEO, has stressed that there were no plans to take the firm public anytime soon; the firm recently picked up $1 Billion from major investors such as Google and Fidelity Investments. These firms have realized the significance of SpaceX products and are hoping to reap the benefits from exiting through an IPO.

Space Exploration Technologies, also known as SpaceX, designs, manufactures, and launches advanced rockets and spacecraft. The company launches communications and earth-orbiting satellites and supply missions to the International Space Station.

IPO Prospects

Space Exploration Technologies, [SPACEEXP], Hawthorne, CA, USA

1 – Founding rounds based upon estimates and press release at time of publication2 – Investors based on public information at time of publication



Date$1,284,854,998


Investor: Elon Musk Draper Fisher Jurvetson

The Founders Fund Scott Bannister

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Palantir went on an acquisition spree last summer by picking up venture-backed companies such as Poptip and Propeller. Specifically the Poptip acquisition showed that Palantir was not shy about spending cash to add to its offerings. With the $50 Million funding the company received in December, Palantir was valued at over $9 Billion. All things considered, investors such as Glynn Capital Management, The Founders Fund, In-Q-Tel could look to an IPO as a viable and profitable exit.

Palantir Technologies offers data software suites for government, commercial, and healthcare industries. The company's software allows users to integrate, visualize, and analyze various types of data.

IPO Prospects

Palantir Technologies, [PALTECP], Palo Alto, CA, USA




date$1,160,989,665


Investor: Glynn Capital Management Individuals Venture Fund

In-Q-Tel Reed Elsevier VenturesPeter Thiel

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For awhile, Dropbox has been a company eyeing the IPO route. The only "roadblock" in terms of market share was that Dropbox hadn't been a true enterprise vendor and instead generated a majority of its revenue from individual accounts. This hurdle has been crossed as Dropbox announced a partnership with Microsoft late last year. Microsoft will be integrating its office suite with the Dropbox platform thus enabling the firm to better sell to businesses. With its $9 Billion valuation, look for Dropbox to very possibly go public this year.

Dropbox offers online file-hosting services using cloud technology. The company offers free plans with 2 GB of storage space, premium subscription plans, and business subscription plans.

IPO Prospects

Dropbox, [DROPBXP], San Francisco, CA, USA




date$1,107,215,000


Investor: Sequoia Capital Accel Partners

Greylock Partners Valiant Capital PartnersRIT Capital Partners

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Although cleantech IPOs have been few in comparison to software IPOs (cleantech usually requiring a longer time frame and bigger budget), Bloom Energy has quietly raised over $1 Billion in funding over the last decade and was also Kleiner Perkins' first clean tech investment. Some had predicted that the firm would go public last year but that did not end up happening. This could be the year that Bloom breaks through.

Bloom Energy Corporation manufactures and distributes on-site power generation systems. The company's generators use solid oxide fuel cells to generate electricity.

IPO Prospects

Bloom Energy Corporation, [BLOENEP], Sunnyvale, CA, USA




date$1,047,406,742


Investor: Kleiner, Perkins, Caufiled &

ByersCrown Capital Corporations

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Cloudera received a $900 Million investment from Intel and Google last March and was valued at over $4 Billion at the time. Still, it was rival Hortonworks who went public first in the fall. It will be no surprise if Cloudera, who has been the leader in the Hadoop open-source software market, decides to go public this year.

Cloudera offers enterprise management applications. The company offers subscription based software as well as training and certification.

IPO Prospects

Bloom Energy Corporation, [BLOENEP], Sunnyvale, CA, USA




date$1,042,400,000


Investor: Accel Partners Greylock Partners

MeriTech Capital Partners Ignition PartnersIn-Q-Tel

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Since being founded in 2007, SurveyMonkey has experienced excellent growth capped by its $250 Million funding pickup from major firms such as T. Rowe Price Associates and Google Capital in 2014. With massive international expansion and a current $2 Billion valuation, SurveyMonkey could go public, although it won't be because its looking to raise cash.

SurveyMonkey offers user generated online surveys. The company offers a free version of its services with limited features as well as three tiers of premium services each with additional features.

IPO Prospects

SurveyMonkey, [SURMONP], Palo Alto, CA, USA




date$915,000,000


Investor: TPG Capital J.P. Morgan Chase & Co.

RBC Bank Bain Capital VenturesSpectrum Equity Investors GoogleTiger Global Management

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Airbnb has seen its valuation skyrocket, growing at over 100% a year for the past several years, and has seen their value reach $10 Billion. So far Airbnb’s investors and management have been reluctant to go public, and as long as they do not have cash flow issues, they have less pressure to do so. The company faces low fixed costs and higher than industry average margins, and the company could remain private as long as the investors do not force an IPO.

Airbnb offers online listing and booking services for individuals to rent out their extra space. The company charges fees to both the lessor and the renter.

IPO Prospects

Airbnb, [AIRBNBP], San Francisco, CA, USA




date$884,388,408

Airbnb Investors 2

Investor: Y Combinator Sequoia Capital

Greylock Partners Youniversity VenturesSV Angel Andreessen Horowitz

Digital Sky Technologies Ashton Kutcher

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Chobani’s equity is held solely by its founder, Hamdi Ulukaya. The company’s revenues have skyrocketed and raised $750 Million in debt funding in 2014, showing that they have no issues in raising funds through means other than an IPO. The primary pressure for Chobani to go public would be if Mr. Ulukaya wanted to exit his investment and could not find a buyer.

Chobani produces and sells Greek yogurt. The company has enjoyed a dramatic increase in revenue due to the rapid increase Greek yogurt popularity.

IPO Prospects

Chobani, [CHOBINP], New Berlin, NY, USA



Revenue $1,220,000,000Total Funding to

date $751,500,000

Chobani Investors2

Investor: Hamdi Ulukaya

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Square is not likely to IPO in 2015. Square founder, Jack Dorsey, has repeatedly stated that Square has never had plans to begin an initial public offering, nor an M&A deal. The company has revenues of over $900 Million but is not profitable, and the company’s valuation of $5 Billion is much too high for the company to sustain as a public company, given its lack of profitability.

Square provides mobile point-of-sale system via a credit card reader for iPhone, iPad, and Android devices. The company provides the card reader device for free in exchange for a transaction fee.

IPO Prospects

Square, [SQUAREP], San Francisco, CA, USA




date$680,897,016

Square Investors2

Investor: Kleiner, Perkins, Caufiled &

ByersTiger Global Management

Rizvi Traverse Mangement Starbucks CorporationSequoia Capital

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Thank you for your considerationFor a full list of the PrivCo Top IPO candidates for 2015 please visithttp://www.privco.com/privco-ipo-watch-2015s-top-candidates

http://www.privco.com/privco-ipo-watch-2015s-top-candidates

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PrivCo's Top 10 IPO Candiates for 2015