When Snap went public in early March, it opened up the floodgates after what had been a stagnant period for tech IPOs. The warm investor reception for the Snapchat parent helped pave the way for MuleSoft, Alteryx, Elevate, Okta, Netshoes, Yext, Cloudera and Carvana, which all debuted in March or April.
But then in May we only had Appian. And June isn’t expected to be a strong month either.
Considering the Nasdaq and S&P are at record highs and the latest batch of IPOs performed pretty well, every late-staged venture company that’s ready should be trying to go public right now. So where are they?
Experts say that more are coming, but it might not be the blockbuster year that some were hoping for.
“We will see a few, but I believe the predictions of a very robust first half of the year will prove to have been way too optimistic,” said Lise Buyer, an IPO consultant and partner at Class V Group. “The combination of plenty of cash in the bank and a disconnect between last year’s private and comparable public valuations will, in my opinion, keep the market plodding, but not galloping along.”
She’s referring to all…