How 2014 IPO Companies Have Evolved: A 12-Year Performance Snapshot

A dozen years have passed since 2014, when the stock market welcomed a significant wave of initial public offerings. From Chinese e-commerce giants to innovative tech startups, these companies that had their IPO in 2014 charted vastly different paths. Some investors who caught the wave early saw their portfolios multiply in value, while others watched their investments shrivel by nearly 90%. What lessons can modern investors learn from tracking how these 2014 IPO stocks performed?

The Blockbuster Winners: Companies That Rewarded Early Believers

Not every company that goes public thrives, but a select few from 2014’s IPO class demonstrated exceptional staying power.

Zendesk stands as the crown jewel among 2014 IPO companies. The software-as-a-service provider launched at just $9 on May 15, 2014, and by 2022 had reached $75.70 per share—a staggering +741% return. This cloud-based help desk and customer service platform found its niche in enterprise solutions and continued climbing despite market headwinds. While the stock faced headwinds from the broader market decline in later years, long-term believers who held their shares from the IPO gained handsomely.

Ultragenyx, a biopharmaceutical company specializing in rare disease treatments, debuted at $21 on January 30, 2014. By mid-2015, the stock had skyrocketed beyond $130, before moderating to approximately $40 by 2022—still delivering a +90% return since the IPO. The company’s focus on gene therapy and treatments for ultra-rare genetic disorders has provided it with a defensible market position and long-term growth trajectory.

The Steady Performers: 2014 IPO Companies With Solid Gains

Some companies didn’t achieve astronomical returns but still rewarded patient investors with respectable gains.

Synchrony Financial launched on the NYSE at $23 on July 31, 2014, climbing to approximately $28.21 by September 2022—a +23% return. As one of America’s largest private-label credit card issuers, the company benefited from increasing consumer credit reliance and rising interest rates. Analysts projected continued upside, targeting near $40 per share for the subsequent 12 months.

Alibaba, China’s answer to Amazon, arrived on the New York Stock Exchange on September 19, 2014, at $68 per share. The massive e-commerce marketplace peaked above $300 during the pandemic years but retreated to approximately $78.91 by September 2022—a modest +16% return since its landmark IPO. Despite regulatory scrutiny and occasional delisting threats from the SEC, the company retained substantial growth potential based on its track record and market dominance in Asia.

The Disappointments: 2014 IPO Stocks That Lost Their Luster

Numerous companies from 2014’s IPO class experienced severe underperformance, teaching investors about market volatility and execution risk.

TrueCar, an online automotive marketplace connecting consumers with certified dealerships, launched at just $9 on May 16, 2014. The IPO raised only $70 million—below management expectations—and the stock eventually plummeted to $1.61 by 2022, marking an -82% collapse. Despite partnerships with major retailers like Sam’s Club and American Express, the company struggled to capture sustainable market share.

GoPro entered the market at $24 on June 25, 2014, manufacturing wearable sports cameras for athletes and adventurers. By 2022, the stock had cratered to $4.99—a devastating -79% decline. Though the company maintained a devoted customer base and explored subscription models offering cloud storage and livestreaming, it never regained investor enthusiasm despite periodic product innovations.

Coupons.com (later renamed Quotient Technology) had an explosive first day, jumping from $16 to $30 on March 7, 2014, but the initial enthusiasm evaporated. Trading under the ticker QUOT on the NYSE, the digital coupon platform plummeted to $2.12 by 2022—an -87% loss. What seemed like a revolutionary merger of online savings with brick-and-mortar retail ultimately failed to capture sustained user engagement.

Companies That Exited Early: 2014 IPO Acquisitions

Not all 2014 IPO companies remained independent. Virgin America, the budget airline partly owned by Richard Branson, debuted on Nasdaq at $23 on November 13, 2014. In 2016, Alaska Air Group acquired the company for $2.6 billion, paying shareholders $57 per share—more than double the IPO price. Early investors who held through the acquisition realized excellent returns.

Grubhub, which launched on April 4, 2014, at $26, became a leader in food delivery services alongside the pandemic-driven surge in online ordering. However, the company faced increasing competition from DoorDash (which captured 53% market share by 2021 versus Grubhub’s 21%). Its parent company, Just Eat Takeaway.com, delisted from Nasdaq in early 2022 to reduce operational costs and management burden.

The Mixed Bags: 2014 IPO Companies With Moderate Challenges

LendingClub, a peer-to-peer lending marketplace, debuted at $15 on December 10, 2014, and initially soared to over $120 within days, generating more than $1 billion in gross proceeds. However, the stock retreated to $11.12 by 2022—a -26% loss from its IPO price. Despite current underperformance, investors received “buy” ratings from analysts, who projected an average 12-month target price of $37.40, suggesting potential recovery for those maintaining positions.

Key Takeaways for Investors Considering 2014 IPO Companies

Looking back at how companies that had their IPO in 2014 performed reveals several patterns. The biggest winners typically operated in growing sectors (SaaS, rare disease pharmaceuticals) and demonstrated strong execution. The worst performers often entered crowded markets (food delivery, online retail) where competitive dynamics shifted rapidly.

While some 2014 IPO companies became household names or attracted strategic acquirers, others lost nearly all shareholder value or faced delisting threats. This diversity of outcomes underscores a fundamental investment reality: IPOs represent both tremendous opportunity and substantial risk.

Investors today have expanded access to IPO participation through online brokerages, enabling retail participation in promising companies at ground-floor valuations. However, the 2014 IPO class demonstrates that early-stage investment requires careful analysis of market positioning, competitive dynamics, and long-term growth potential rather than relying on initial enthusiasm alone.

Note: Performance data referenced is based on September 26, 2022 valuations, subject to market changes. Returns have been rounded to the nearest whole number.