It goes without saying that 2012 was one of the most memorable IPO years of the past decade. Facebook’s long-awaited listing stole the headlines, but it wasn’t the only big debut. Companies like ServiceNow, Workday, Palo Alto Networks, and Five Below also hit the market, raising billions and helping define the modern tech and retail landscape.
| Company (Ticker) | Offer Price | Current Price | Total Return |
|---|---|---|---|
| ServiceNow (NOW) | $18.00 | $932.88 | +5,082.67% |
| Meta Platforms – Facebook (META) | $38.00 | $752.96 | +1,881.47% |
| Guidewire Software (GWRE) | $13.00 | $253.70 | +1,851.54% |
| Five Below (FIVE) | $17.00 | $140.31 | +725.35% |
| Workday (WDAY) | $28.00 | $223.53 | +698.32% |
| Palo Alto Networks (PANW) | $42.00 | $197.58 | +370.43% |
| Vipshop (VIPS) | $6.50 | $17.93 | +175.77% |
| Yelp (YELP) | $15.00 | $31.21 | +108.07% |
| Shutterstock (SSTK) | $17.00 | $20.98 | +23.41% |
| Manchester United (MANU) | $14.00 | $16.36 | +16.86% |
At the time, many investors focused on Facebook’s bumpy start or whether cloud software could really scale. Ten years later, the numbers tell a different story. ServiceNow, for example, went public at $18 and now trades near $933, a +5,083% gain, easily outpacing nearly everything else in its cohort. Even Five Below, a discount retailer, turned $17 at IPO into $140, showing that not only tech names delivered.
Looking back is useful because IPOs are often clouded by hype or early volatility. The 2012 class shows that what matters is recurring revenue, market size, and disciplined execution. With the benefit of hindsight, it’s clear which companies built long-term value, and which ones stalled out.
1. ServiceNow (NOW)
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ServiceNow priced its IPO at $18 in June 2012, valuing the company at just a few billion dollars. Today it trades at $932.88, a stunning +5,083% total return, and continues to grow about +34.9% annually. The business evolved from a niche IT service desk tool into a comprehensive workflow platform that spans HR, customer service, and security, with revenue scaling into the billions. It’s the clear star of the 2012 class.
2. Meta Platforms (META)
Facebook’s IPO at $38 in May 2012 was rocky, but long-term investors were rewarded. The stock now sits at $752.96, equal to a +1,881% total return and about +25.1% CAGR (Compound Annual Growth Rate). In that time, monthly active users grew from around 845 million to over 3 billion, while advertising revenue became one of the most profitable business models in history. Buying at IPO turned out to be a generational investment.
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3. Guidewire Software (GWRE)
Guidewire went public at $13 in January 2012, focusing on core insurance software. Shares now trade at $253.70, a +1,852% gain and about +24.4% annually. With sticky customers and decades-long replacement cycles, Guidewire became a slow-and-steady compounder. Its returns may not have grabbed headlines like Facebook’s, but they’ve been just as powerful for patient investors.
4. Five Below (FIVE)
Discount retailer Five Below priced its IPO at $17 in July 2012. Shares now change hands at $140.31, equal to a +725% return and about +17.4% CAGR. The company expanded from around 200 stores at IPO to over 1,600 locations today, proving that low-cost fun for teens and families has staying power. Even in a tech-heavy IPO year, a brick-and-mortar chain was one of the standouts.
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5. Workday (WDAY)
Workday debuted at $28 in October 2012 and quickly became one of the flagships of cloud enterprise software. Its stock sits at $223.53, a +698% return and about +17.5% CAGR. Revenue grew from under $300 million at IPO to more than $7 billion today as companies embraced cloud HR and financial systems. Workday shows how recurring SaaS models compound over time.
6. Palo Alto Networks (PANW)
Cybersecurity firm Palo Alto Networks IPO’d at $42 in July 2012. Today, the stock trades at $197.58, representing a +370% return and about +12.5% annually. Revenue grew from roughly $255 million in 2012 to over $8 billion today, fueled by acquisitions and a shift to subscription-based services. It’s been a consistent winner in a fast-moving industry.
7. Vipshop (VIPS)
Vipshop, a Chinese e-commerce platform specializing in flash sales, went public at just $6.50 in March 2012. The stock now sits at $17.93, a +176% total return and about +7.8% CAGR. At its peak in 2015, shares were up more than 4,000%, but regulatory shifts and competition in China pulled them back down. Still, long-term holders are in the green.
8. Yelp (YELP)
Yelp IPO’d in March 2012 at $15 per share, riding the local review boom. The stock is now $31.21, a +108% return and about +5.6% CAGR. Revenue grew from just $137 million in 2012 to over $1.3 billion today, though competition from Google and shifting ad dynamics kept returns more modest. Yelp is a story of solid growth but not runaway compounding.
9. Shutterstock (SSTK)
Shutterstock launched its IPO in October 2012 at $17, bringing stock photography to the public markets. Shares now trade at $20.98, a +23% return and just +1.6% CAGR. The company grew sales from ~$170 million in 2012 to more than $800 million, but margins and growth slowed as competition increased, especially with AI now shaking up the content licensing space.
10. Manchester United (MANU)
The famed football club IPO’d at $14 in August 2012. Its stock sits at $16.36 today, for a +16.9% return and about +1.2% CAGR. At the same time, revenues grew with broadcasting deals and global fan monetization, but debt and inconsistent performance on the pitch capped returns. For fans, it’s a passion, but for investors, it’s been the slowest grower of the bunch.
Meta, Workday, and the Best IPOs of 2012
A decade later, the biggest winners from 2012 stand out for their scale and durability. ServiceNow (+5,083%), Meta (+1,881%), Guidewire (+1,852%), and Workday (+698%) all leaned on sticky software, recurring subscriptions, and global expansion to compound steadily. Even Palo Alto Networks (+370%) proved that riding a secular trend, in this case, cybersecurity, can deliver strong returns over time.
On the other side, companies like Shutterstock (+23%) and Manchester United (+17%) remind us that growth stories without strong moats or scalable economics can deliver underwhelming returns. The lesson is simple: IPO pops are fleeting, but durable business models are what compound over decades. The Class of 2012 makes that point with complex numbers investors can’t ignore.
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
