WWIBWN IPO scenarios
What would an IPO investment be worth now?
Compare investments made when companies first reached public markets through IPOs or direct listings.
Microsoft at IPO produced the largest current result in this category.
Different assets, stories and starting points to explore.
Historical returns do not predict future performance.
Microsoft at IPO
Microsoft before Windows, Office, enterprise licensing, cloud and AI.
Nvidia at IPO
Nvidia before GPUs became central to gaming, data centres and AI infrastructure.
Apple at IPO
Apple before the Mac, iPhone, App Store, services and ecosystem compounding.
Amazon at IPO
From online-bookstore IPO through ecommerce, AWS and AI infrastructure.
Amazon during the dot-com crash
Buying Amazon when the internet bubble had burst and most investors had lost faith.
Netflix
From DVD-by-mail IPO to global streaming leadership.
Tesla at IPO
Tesla before EVs became mainstream and before manufacturing scale was proven.
Search, ads, Android, YouTube and AI from the 2004 IPO.
Shopify
Independent commerce before the pandemic boom and reset.
Meta
Facebook before mobile ads, Instagram and AI targeting scaled.
Robinhood
Retail trading culture after the pandemic boom cooled.
Community attention, ads and AI data licensing after IPO.
Uber
Ride-hailing, delivery and the profitability turnaround after IPO.
Zoom
From its 2019 IPO through the pandemic boom and post-pandemic reset.
Alibaba
China ecommerce, cloud growth and regulatory risk after the 2014 IPO.
Snowflake
Cloud data growth tested against a rich software valuation.
Airbnb
Travel marketplace strength after a demanding 2020 listing.
DoorDash
Delivery demand after pandemic habits met normalised expectations.
Coinbase
A listed crypto gateway through brutal market cycles.
Beyond Meat
Plant-based food enthusiasm followed by slower adoption and a severe valuation reset.
Peloton
A connected-fitness pandemic boom followed by a severe expectations reset.
Rivian
A cautionary EV story about valuation, cash burn and execution.
WeWork
A failed IPO, SPAC listing, bankruptcy and cancellation of the original public shares.
Why are IPO returns so different?
An IPO or direct listing gives public investors an early entry point, but not necessarily a cheap one. Returns depend on the listing valuation, business execution, competition and how expectations change after the company becomes public.
How to read these comparisons
Each scenario uses its stated starting date and historical market data. Results may differ from actual transactions because of fees, taxes, liquidity, currency movements, execution prices and data availability.
WWIBWN is educational only. Past performance does not guarantee future results.
See how the biggest IPO winner compares with a broad-market ETF benchmark.
Compare Amazon IPO with VOO