The European Exit Environment 2018 has been a truly remarkable and a record-breaking year for outsized outcomes in the European tech industry, capped by Spotify’s giant $25B direct listing 2018 has been a truly remarkable and a record-breaking year for outsized outcomes in the European tech industry, 2018 has been a truly remarkable and a record-breaking year for outsized outcomes in the European tech industry, capped by Spotify's giant $25B direct listing. In total, the Top 10 exits of 2018 had a combined of more than $50B. capped by Spotify's giant $25B direct listing. In total, the Top 10 exits of 2018 had a combined of more than $50B. Exit type Country City Value at IPO / EV in M&A ($M) Exit type Country City Value at IPO / EV in M&A ($M) Top 10 largest VC-backed exits by value at Spotify IPO Sweden Stockholm 26,500 Top 10 largest VC-backed exits by value at Spotify IPO Sweden Stockholm 26,500 exit in 2018, IPO & M&A exit in 2018, IPO & M&A Adyen IPO Netherlands Amsterdam 7,810 Adyen IPO Netherlands Amsterdam 7,810 Farfetch IPO United Kingdom London 5,800 Farfetch IPO United Kingdom London 5,800 Avast Software IPO Czech Republic Prague 3,168 Avast Software IPO Czech Republic Prague 3,168 Zoopla M&A United Kingdom London 2,904 Zoopla M&A United Kingdom London 2,904 Elastic IPO Netherlands Amsterdam 2,500 Elastic IPO Netherlands Amsterdam 2,500 iZettle M&A Sweden Stockholm 2,200 iZettle M&A Sweden Stockholm 2,200 Funding Circle IPO United Kingdom London 1,980 Funding Circle IPO United Kingdom London 1,980 Mendix M&A Netherlands Amsterdam 730 Trendyol M&A Turkey Istanbul 728 Mendix M&A Netherlands Amsterdam 730 Trendyol M&A Turkey Istanbul 728 Source: Source: Country City EV ($M) Country City EV ($M) Top 10 largest VC-backed M&A exits by value Zoopla United Kingdom London 2,904 Top 10 largest VC-backed M&A exits by value Zoopla United Kingdom London 2,904 at exit in 2018 at exit in 2018 iZettle Sweden Stockholm 2,200 iZettle Sweden Stockholm 2,200 Mendix Netherlands Amsterdam 730 Mendix Netherlands Amsterdam 730 Trendyol Turkey Istanbul 728 Trendyol Turkey Istanbul 728 CCP Games Iceland Reykjavik 425 CCP Games Iceland Reykjavik 425 Shazam United Kingdom London 400 Shazam United Kingdom London 400 NewVoiceMedia United Kingdom Basingstoke 350 NewVoiceMedia United Kingdom Basingstoke 350 Relayr Germany Berlin 300 Relayr Germany Berlin 300 Gram Games Turkey Istanbul 250 MetaPack United Kingdom London 230 Gram Games Turkey Istanbul 250 MetaPack United Kingdom London 230 Source: Source: 135 In Partnership with & www.thestateofeuropeantech.com