Wall Street may be regaining its appetite for new companies, which could be good news for local startups, investors and San Francisco
San Francisco is likely to see something this week that neither it nor the Bay Area has seen in six months — an initial public offering by a local tech company.
That pace quickened in 2021, with about three San Francisco startups going public every two months and almost five per month across the region. When the market started to fall in late 2021 amid rising interest rates, soaring inflation, geopolitical instability with the impending Russian invasion of Ukraine and fears of a recession, many of those newly public companies saw their stock prices get crushed.
“Investors don’t forget that,” DeClark said. “They know how much pain they were inflicted trying to get out of those positions.” Reddit executives, employees and investors know that tug-of-war well. The popular provider of online discussion forums raised $410 million at a $10 billion valuation in 2021. But in its IPO, it’s seeking an initial market capitalization of no more than $6.4 billion.
UCSF researchers find COVID-19 vestiges can linger up to two years A new study reported that traces of the virus can be found in both blood and tissue samples for extended periods of time A turnaround could benefit the local economy and government finances. The venture and startup ecosystem is highly dependent on successful IPOs. The money that venture investors make when their portfolio companies go public is frequently invested in the next generation of startups. Executives of startups that successfully go public often go on to become venture investors themselves.
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