Andrea Ucini for BI
A few months ago, after years of abysmal performance, it looked like IPOs were finally set for a comeback. ServiceTitan, a software platform for general contractors, saw its stock soar by 35% after its debut in December. A bunch of hot companies were lined up to go public: the buy-now, pay-later lender Klarna, the ticket reseller StubHub, and the AI infrastructure provider CoreWeave. Silicon Valley, it seemed, was about to return to the good old days, when snazzy new startups could expect a huge payoff on Wall Street. "All signs were pointing to 2025 as the year when we would finally get some IPOs," says Matt Kennedy, a senior strategist at Renaissance Capital.
No comments