Since most of the company's revenue comes from transaction fees, Coinbase's results are volatile from quarter to quarter as they are correlated to cryptocurrency markets. The public listing allowed investors to gain indirect exposure to cryptocurrencies by purchasing Coinbase shares. ![]() ![]() Rather than a traditional IPO, the company let its stakeholders start selling shares directly through a direct public offering.Ĭoinbase gained widespread attention as the first cryptocurrency company to go public, which many viewed as a major step toward the mainstream adoption of cryptocurrency. Though its deal size makes it the largest public debut for 2021, cryptocurrency exchange platform Coinbase didn't receive any proceeds when it started trading on the public market. Morningstar analysts currently cover Coinbase COIN and Roblox RBLX. The largest public debuts this year were direct listings, but a couple of traditional IPOs also cracked the top five. Here are the biggest public offerings of the year by deal size, both globally and in the United States. In addition to the sheer number of companies entering the public markets, 2021 has seen well-funded startups drum up investor enthusiasm that led to massive public debuts.
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