Tech IPOs
topic on 7 shows · 12 statements across 11 episodes
More or Less 
BG2 Pod 
Invest Like the Best 
A Product Market Fit Show 
the a16z Podcast 
All-In 
20VC
12 statements about Tech IPOs, every show
Lemkin: 2026 will see one or two trillion-dollar tech IPOs
“The idea that we will have a trillion dollar IPO next year, maybe two, we might have two trillion dollar IPOs”
Jay Hoag: Historically, even mediocre years saw 50 to 60 tech IPOs
“Even in mediocre years historically, there were 50 or 60 US-based tech IPOs”
O'Driscoll: Tech IPO baselines will never return to $100M revenue
“And if you get high priced rounds with lots of price protection and you ultimately go public, you may in fact discover that the last couple of rounds were way more expensive than you thought. And I think that's, what's going to kind of, I don't think it'll eve…”
Lemkin: Most tech IPOs trade flat two years post-listing
“Most tech IPOs are flat two years out, so why would you buy in the IPO, right?”
Lemkin: Expiring RSUs force late-stage tech IPOs more than investor liquidity
“A lot of that is driven by taxes in the US. It's not really driven by liquidity for investors. It's driven by this brutal tax situation of RSUs expiring. They're expiring on employees and they're becoming taxable events before the IPO.”
Late-stage deal sizes fell 50% as tech IPOs hit 10-year lows
“Late stage deal size falling more than 50%. There's the fewest number of IPOs since 2013. So again, a 10 year low, the fewest number of unicorns in the last seven years.”
Gerstner: Tech IPO Dam Will Break in Second Half of 2024
“I think you're gonna see the dam really break on this year, particularly in the back half of this year. And the reason is because people gotta raise capital, right?”
Sam Lessin: The era of frequent tech IPOs is permanently over
“It's not that it won't happen. Of course someone's going to go public. It's not going to zero, but like the era of like lots of IPOs for tech is just done, right? Like it turns out that these are pretty shitty companies in general.”
Gerstner: Altimeter tracked zero tech IPOs in 2023 year-to-date
“We're one of the major buyers in tech IPOs, so I just went to the team and said, how many IPOs were we tracking and did we consider participating in during these years? So that was 46 in twenty-twenty. A hundred in 20, 21. Three in 20, 22 and zero year to date…”
Friedberg: Top 43% of post-2020 IPOs created $750B market cap
“The market cap of 43% of companies that have gone public since 2020 is seven hundred and fifty billion dollars. The market cap of three, the other 300 is only twenty six billion dollars, and the cash that went in To the seven hundred and fifty billion dollars …”
Ashatosh: Capital access and buyer validation no longer force tech IPOs
“One was because it was a way to come back and raise some money. That isn't much of an issue these days. And more importantly, it was a way for validation of a company so that the buyers could buy it from those people. That isn't also an issue today.”