Tech stocks had one of their best years in the last two decades following the 2022 slump. But the stellar stock performance didn’t fully carry into the IPO scene in 2023. The tech IPO market welcomed only 148 new companies to Wall Street. A handful of companies went public during the year including major players like Arm, Instacart, and Klaviyo. But their debuts were underwhelming, leaving investors disappointed and dampening hopes for a big IPO boom.
As we look ahead to 2024, there’s uncertainty about whether it will mark a resurgence for IPOs. People are also wondering if 2024 will turn things around, but opinions vary. Some venture capitalists doubt the market’s stability for launching new tech IPOs, while others in the financial sector see potential due to promised rate cuts by the Fed and a sluggish M&A market.
Despite the cautious outlook, some expect a comeback for IPOs in 2024. There’s a substantial pool of potential IPO candidates waiting for their turn, and they might not be able to delay much longer, especially with dwindling late-stage venture capital, according to Lise Buyer, founder of IPO consultancy Class V Group. She expressed optimism, calling the outlook “merry and bright for the 2024 IPO market.”
Now, as the new year unfolds, the IPO stage is once again illuminated. While the lukewarm performance of recent IPOs may delay the plans of other tech players, there remains a substantial pool of potential IPO candidates awaiting their turn. The urgency increases, especially with late-stage venture capital becoming scarcer. Despite less-than-ideal market conditions, the pressure is likely to open the IPO window further in 2024.
Research firm CB Insights recently unveiled its 2024 Tech IPO Pipeline, showcasing 257 venture-backed companies poised for their Wall Street debut in the next 12 to 18 months. Spanning various technological sectors, these companies embody years of innovation and venture capital support. The anticipation is palpable, with a delicate balance between the promise of explosive growth and the challenges of navigating the public markets. From AI innovators to fintech disruptors, each entity faces a crucial question: will they thrive as publicly traded giants, or succumb to the realities of the market?
CB Insights’ analysis considers funding, valuation, employee count, and other factors, even examining recent CFO hires with IPO experience as a potential signal of companies preparing for public scrutiny. But it’s important to note that not all these companies might go public, and even those that do might not perform exceptionally well. This isn’t about picking winners in the stock market; it’s more about spotlighting companies showing signs of readiness to go public.
It’s essential to note that market dynamics may impact the fate of these 257 companies, and their public performance is uncertain. This list is not intended as investment advice but rather a focus on companies potentially ready for an IPO, considering the signals and data mentioned. As we enter 2024, these venture-backed companies are poised on the brink of going public.
With that, below is a list of 257 venture-backed companies that seem ready to make their debut on the stock market in 2024.
257 Potential Tech IPOs for 2024
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- Source: https://techstartups.com/2024/01/02/tech-ipos-to-watch-in-2024-257-venture-backed-startup-companies-poised-to-go-public-in-2024/
