📈 Nasdaq Consistently Sees More American IPOs than the NYSE

What We’re Showing

A chart with the number of U.S.-based IPOs on the NYSE and Nasdaq from 1983–2023. Data is sourced from “Initial Public Offerings: Updated Statistics” a database run by economist Jay R. Ritter at the Warrington College of Business, University of Florida. See the sources tab for details.

Key Takeaways

• Seen as the “upstart” exchange, the Nasdaq, founded in 1971, was the first platform to offer electronic trades.
• Compared to the NYSE, its more storied peer, the Nasdaq has consistently seen more IPOs in over four decades—barring 2009, 2011, and 2012. Part of this is because the Nasdaq has less stringent requirements for companies to list, particularly around profitability metrics. As a result it's regarded as an exchange for startups and growth-oriented companies, and tech startups in particular.
• The last two years saw a major decrease in the number of IPOs on both exchanges.