Examples of companies that went public through SPAC mergers

Here are some notable examples of companies that went public through SPAC mergers, particularly from the peak years of 2020–2023 when SPACs were highly popular as an alternative to traditional IPOs:

• DraftKings (DKNG) — Merged in April 2020 with Diamond Eagle Acquisition Corp. One of the early success stories in online sports betting and gaming.
• Virgin Galactic (SPCE) — Merged in 2019 (trading began post-merger) with Social Capital Hedosophia Holdings. Richard Branson's space tourism company, often cited as a high-profile SPAC debut.
• Trump Media & Technology Group (DJT) — Merged in March 2024 with Digital World Acquisition Corp. Operator of Truth Social; gained significant attention due to its association with former President Donald Trump.
• Lucid Motors (LCID) — Merged in July 2021 with Churchill Capital Corp IV. Luxury electric vehicle manufacturer, positioned as a Tesla competitor.
• Opendoor (OPEN) — Merged in 2020 with Social Capital Hedosophia Holdings II. Real estate tech platform for buying and selling homes online.
• Clover Health (CLOV) — Merged in 2021 with Social Capital Hedosophia Holdings III. Medicare Advantage insurance provider using tech and data.
• Nikola (NKLA) — Merged in June 2020 with VectoIQ Acquisition Corp. Electric and hydrogen truck company (faced challenges post-merger).
• SoFi (SOFI) — Merged in June 2021 with Social Capital Hedosophia Holdings V. Fintech company offering banking, investing, and lending services.

SPAC mergers surged in 2020–2021, allowing companies to go public faster and with more valuation flexibility than traditional IPOs, though many post-merger stocks underperformed amid market shifts and higher redemptions.

Opendoor Technologies (OPEN) : 4-year performance

Founded in 2014, Opendoor operates as a tech-driven platform that buys homes, makes minor repairs and quickly resells them, charging sellers a commission — typically 1% higher than the market rate — for the speed and convenience of the process. 

Buyers can view homes via a smartphone app, with or without an agent, and agents still receive the standard commission if involved. Sellers, meanwhile, can receive a cash offer within days by filling out an online questionnaire and uploading photos, bypassing the need for staging or open houses. 

Home prices are set using algorithms, further streamlining the transaction process.