Tech companies closed out 2020 with several blockbuster IPOs, including the much-hyped debuts of Airbnb and DoorDash. But Affirm Holdings, which has the distinction of becoming the first big tech IPO of 2021, is already a positive affirmation of the market’s prospects in the new year.
The fintech payments company, which was founded by PayPal cofounder Max Levchin, soared on its Nasdaq debut Wednesday. It began trading at $90.90 per share, more than 80% higher than its earlier pricing of $49 a share.
Major investors in the company’s offering included Peter Thiel’s Founders Fund, Khosla Ventures, Lightspeed Venture Funds, and e-commerce firm Shopify.