The week of April 12 is shaping up to be a big one for public debuts, with many investors watching the highly anticipated direct listing of Coinbase.
Here's a look at the Coinbase IPO and other companies set to go public this week.
Coinbase had 2.8 million monthly transacting users in 2020 and 43 million verified users in 2020. The company also serves over 7,000 institutional customers. Coinbase operates in over 100 countries.
The company recently reported first-quarter revenue of $7.2 billion, greatly outpacing the $1.3 billion reported in all of fiscal 2020. Coinbase reported 56 million verified users globally in the first quarter and 6.1 million monthly transacting users in the first quarter.
Coinbase reports it has an 11% market share of the cryptocurrency market with $223 billion in customer assets. Coinbase is selling 114.9 million shares with its direct listing.
Related Link: Coinbase IPO: 7 Key Takeaways Investors Should Know
TuSimple Holdings Inc: TuSimple Holdings Inc (NASDAQ:TSP), which develops autonomous technology for the global truck freight market, plans on selling 33.8 million shares at a price point of $35 to $39.
The company has over 240 technology patents and over 2.8 million road-tested miles. TuSimple has a partnership with Navistar International Corp (NYSE:NAV) and Volkswagen subsidiary Traton. TuSimple has over 5,700 reservations for its autonomous trucks.
TuSimple said it has an addressable market size of $4 trillion. The company hopes its autonomous trucking solutions can help with fewer accidents, driver shortages, safety and efficiency.
Labor is the largest per mile cost in the industry, making up 43% of semi truck operating costs, according to the company.
TuSimple will sell its products under a carrier-owned model and a pay-per-mile option called TuSimple Capacity.
Karat Packaging: Environmentally friendly and single use packaging company Karat Packaging (NASDAQ:KRAT) plans to sell 3.95 million shares at a price point of $18 to $20.
Karat has over 50,000 customers including chains like Chili’s, TGI Friday’s, Chipotle Mexican Grill and In ‘N Out.
The company reported revenue of $296 million in fiscal 2020, a year-over-year increase of 31.4%. Karat plans on building its online distributions, disrupting traditional food service providers and creating a one-stop supplier solution for restaurants.
Related content: Benzinga's Full Upcoming and Recent IPOs Calendar
Applovin says its total market size is expected to grow from $189 billion in fiscal 2020 to $283 billion by 2024. The company plans to grow with market expansion, new market extension and geographic expansion. Applovin plans on selling 25 million shares at a price point of $75 to $85.
Agilon Health: Medicare-centric company Agilon Health Inc (NYSE:AGI) seeks to create a service for primary care physicians to be agents for change in their community.
The company saw membership rise 45% year-over-year in fiscal 2020 and revenue grow 53% year-over-year in fiscal 2020. Agilon serves over 210,000 patients in 17 geographic areas. The company plans to grow through new regional hubs and expanded its adjacent geographic areas. Agilon plans to sell 46.6 million shares at a price point of $20 to $23.
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