2019 Tech IPOs: No Gain, Just Pain

The 2019 class of IPOs includes a number of so-called unicorns, including high-profile names like Uber, Lyft, Pinterest, Zoom and Slack. Together, the unprofitable IPOs have already raised the most cash of any year since at least 2000. Peloton’s Thursday debut on the Nasdaq is just the latest money-losing firm to go public—and also the latest to disappoint.