Here are the 11 largest IPOs of all time

• The IPO market is slowly recovering after its coronavirus slump, but no recent deal stacks up to the record-breaking debuts of the 2010s.
• Seven of the top 11 IPOs took place in the 2010s, when unicorn startups and industry giants leveraged insatiable investor demand to rake in billions.
• Here are the 11 largest IPOs in history, ranked in ascending order.
• Visit the Business Insider homepage for more stories.

Initial public offerings are returning to the market after a pandemic-driven pause, but no recent deals have come close to setting fundraising records.

The IPO market reached a fever pitch in 2019, with unicorns including Uber, Lyft, Zoom, and Beyond Meat all going public as investors flocked to fresh offerings. Yet the frenzy calmed after a number of high-profile offerings flopped on their first trading days. The market replaced its desire for rapid growth with an appetite for profitability, and companies looking to leverage hype in massive IPOs turned back to the drawing board.

The shake-up follows a decade of record-setting market debuts. Of the 11 biggest IPOs by cash raised, seven took place in the 2010s. The largest offering to date was completed just before the decade ended and the coronavirus outbreak ravaged global stock markets.

Here are the 11 largest IPOs in history, ranked in ascending order of funds raised.

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11. Facebook

Facebook Inc. CEO Mark Zuckerberg is seen on a screen televised from their headquarters in Menlo Park moments after their IPO launch in New York May 18, 2012. Facebook Inc, began trading on the Nasdaq market on Friday, with its initial public offering at $38 a share, giving the world's No. 1 online social network a $104 billion valuation in the third largest offering in U.S. history.      Shannon Stapleton/Reuters

Date: May 18, 2012

Amount raised: $16.0 billion

10. Enel

Francesco Starace, CEO and general manager of Enel Group, rings the opening bell with Executives and guests of Enel, at the New York Stock Exchange (NYSE) in New York City, U.S., December 2, 2016.      Brendan McDermid/Reuters

Date: November 2, 1999

Amount raised: $16.6 billion

9. NTT Docomo

NTT DoCoMo President Kazuhiro Yoshizawa speaks during a press conference on May 16, 2019 in Tokyo, Japan.      The Asahi Shimbun/Getty Images

Date: October 22, 1998

Amount raised: $18.1 billion

8. General Motors

Traders walk under a General Motors (GM) sign on the floor of the New York Stock Exchange (NYSE) as GM returns to the US stock market on November 18, 2010 in New York City.      Spencer Platt/Getty Images

Date: November 17, 2010

Amount raised: $18.2 billion

7. Visa

Visa Chairman and CEO Joseph Saunders (C) and Visa CFO Byron Pollitt (3rd R) stand with New York Stock Exchange Chairman Marshall Carter (3rd L) during opening bell ceremonies at the New York Stock Exchange March 19, 2008 in New York City.      Chris Hondros/Getty Images

Date: March 18, 2008

Amount raised: $19.7 billion

6. AIA

An AIA global offering road show is held inside a hotel in Hong Kong October 6, 2010.      Bobby Yip/Reuters

Date: October 29, 2010

Amount raised: $20.5 billion

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5. Industrial and Commercial Bank of China

Jiang Jianqing, chairman and president of the Industrial and Commercial Bank of China (ICBC), delivers a speech during the ceremony to mark their Initial Public Offering (IPO) at Hong Kong Stock Exchange on October 27, 2006 in Hong Kong, China      MN Chan/Getty Images

Date: October 27, 2006

Amount raised: $21.9 billion

4. Agricultural Bank of China

gricultural Bank of China (ABC) Chairman Xiang Junbo (R-2) and Communist Party Secretary of Shanghai Yu Zhengsheng (R) hit the gong during a ceremony marking the first day of trading of Agricultural Bank of China's initial public offering (IPO) at the Shanghai Stock Exchange in Shanghai on July 15, 2010.      STR/AFP/Getty Images

Date: July 6, 2010

Amount raised: $22.1 billion

3. SoftBank

SoftBank Corp. Chief Executive Officer Ken Miyauchi (C) poses for a group photograph during a ceremony for the company's listing at the Tokyo Stock Exchange on December 19, 2018 in Tokyo, Japan.      Tomohiro Ohsumi/Getty Images

Date: December 19, 2018

Amount raised: $23.5 billion

2. Alibaba

Alibaba Group Holding Ltd founder Jack Ma (5th L) arrives at the New York Stock Exchange for his company's initial public offering (IPO) under the ticker "BABA" in New York September 19, 2014.      REUTERS/Lucas Jackson

Date: September 18, 2014

Amount raised: $25.0 billion

1. Saudi Aramco

The official ceremony marking the debut of Saudi Aramco's IPO on Riyadh's stock market on December 11, 2019.      Marwa Rashad/Reuters

Date: December 11, 2019

Amount raised: $29.4 billion

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