venture capitalist etc Start-up founders alike headed into 2023 eagerly hoping for the return of the industry’s exit environment — particularly the resurgence of IPOs.
After 2021, a record year for IPOs, everything ground to a halt in 2022. PitchBook counted 296 venture capital-backed companies going public in 2021, doubling in every previous year — or more. That dropped to 28 in 2022, the lowest number since 2009 amid the financial crisis.
There have been a few companies including Instacart, Chime, and Reddit that have filed for an IPO in late 2021 or early 2022 that have yet to exit the private market. With many hopeful exit opportunities to emerge in the second half of 2023, we’re still excited to see which companies will go public first.
While the secondary market is by no means a perfect indicator, it could provide clues as to how close some of these companies are to the stock market.
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