In all of 2018, 233 companies went public, according to research company IPOScoop.com. They raised a collective $54 billion. This year was meant to eclipse that, with unicorns—startups valued north of a billion dollars—expected to steal the show.
Of all these initial public offerings (IPOs), ride-hailing app Uber was supposed to be the definitive IPO listing of our time. With valuation targets ranging from $120 billion to $200 billion, Uber’s market capitalisation numbers were touted to be as large as its influence in pioneering the “gig economy” model.