On December 17, 2014, OnDeck, a technology-enabled financial platform specializing in business loans, completed the process of becoming a publicly traded company on the New York Stock Exchange under the ticker symbol ONDK. After opening at $20.00 a share, the stock rose nearly 40% on the first day of trading to as high as $27.98, and the company was valued at $1.3 billion.
With the technological evolution of the financial markets, the IPO process has become one of the last ways a physical trading floor like the New York Stock Exchange can display its value to customers over an entirely electronic marketplace like NASDAQ. Since Facebook's rocky debut on the NASDAQ in May 2012, which included technical glitches and order failures, the NYSE has become the preferred platform for tech companies.
2014 saw 129 IPOs on the NYSE, including the largest IPO ever in Alibaba--$25 billion.