10. AT&T – $68 Billion IPO Valuation (2000)
AT&T’s public listing was notable because it stemmed from a major corporate restructuring rather than a conventional startup IPO. Its valuation was underpinned by the company’s leading position in U.S. wireless services, broadband networks, and enterprise communications infrastructure.
At the time, AT&T served one of the largest customer bases globally, with a strong presence across both consumer and business markets. Investors were attracted to its reliable cash flows, extensive infrastructure assets, and critical role in supporting the nation’s communications network. Unlike many large IPOs that are driven by expectations of rapid growth, AT&T was viewed as a stable, defensive investment capable of generating consistent earnings and income.
The sheer scale of its operations, together with its strategic importance to the U.S. telecommunications sector, supported its substantial valuation and secured its place among the largest public offerings ever recorded.
9. Didi Global – $68 Billion IPO Valuation (2021)
DiDi Global’s 2021 IPO was among the most closely watched public listings of the decade. Often described as China’s equivalent of Uber, the company had established a dominant position in the country’s ride-hailing market, serving hundreds of millions of users and facilitating millions of trips each day.
Its valuation was driven not only by the scale of its existing operations but also by its growth prospects across emerging areas such as autonomous vehicles, food delivery, logistics services, and international expansion. Many investors viewed DiDi as a key player in China’s rapidly evolving urban mobility ecosystem.
However, the listing soon became a cautionary tale after Chinese regulators launched investigations and raised concerns over data security and national interests. Despite the regulatory challenges that followed, DiDi’s IPO remains one of the largest technology listings in history, highlighting the substantial economic influence and market value that large-scale mobility platforms can command in emerging economies.
8. Uber – $75 Billion IPO Valuation (2019)
Uber Technologies’s 2019 IPO marked a landmark event for Silicon Valley and the broader technology sector. As the company that helped popularise ride-hailing and reshape the gig economy, Uber had built a vast global presence that transformed how people move within cities. Its IPO valuation of approximately $75 billion reflected the strength of its brand, the scale of its platform, and its leadership position in digital mobility.
Investor interest extended beyond Uber’s core ride-sharing operations. Businesses such as Uber Eats, freight and logistics services, autonomous vehicle development, and micromobility initiatives strengthened the company’s growth narrative. Operating across more than 60 countries and facilitating billions of transactions each year, Uber had evolved into one of the world’s most significant technology platforms.
Although concerns about profitability remained, the company’s valuation was driven by confidence in the long-term value of its platform. Investors believed that Uber’s vast user base, extensive data assets, and powerful network effects could ultimately generate substantial and sustainable earnings over time.
7. Facebook/Meta – $104 Billion IPO Valuation (2012)
Meta Platforms, known as Facebook at the time, executed one of the most highly anticipated tech IPOs in 2012, debuting at an extraordinary valuation of around US$104 billion, the largest ever for a technology company at that point. By then, Facebook had already cemented itself as the world’s dominant social network, connecting more than 900 million users and reshaping global communication, content sharing, and digital information consumption.
Investor excitement stemmed from Facebook’s unparalleled user expansion, its sophisticated advertising engine, and its immense reservoir of behavioural data. Unlike many fast‑growing tech firms, Facebook was already delivering strong revenue and profitability, proving the scalability of its digital ads business. Markets also saw substantial upside in emerging areas such as mobile advertising, video, messaging, and future strategic acquisitions.
Although early concerns surfaced around valuation and Facebook’s ability to monetise mobile traffic, the IPO ultimately reflected deep confidence in the long‑term power of social media platforms. The company’s rapid evolution into a global tech titan in the years that followed validated much of that optimism, solidifying its IPO as one of the most influential and successful market debuts of the modern era.