While occupying very different corners of the technology market, Reddit and Astera were the first notable venture-backed tech companies to go public in the U.S. since Instacart and Klaviyo in September.
Morgan Stanley was the big winner among banks, having captured the coveted lead left spot on both IPOs.
Goldman Sachs led last year's only two big venture-backed offerings, meaning it had been a long dry spell for Morgan Stanley.
In the past two years, there have only been 15 tech IPOs total, according to research provided by University of Florida finance professor Jay Ritter.
That came after a booming market in 2021, when 121 tech companies went public, the most since the dot-com bubble in 2000.
Persons:
hadn't, Morgan Stanley, Goldman Sachs, Jay Ritter, Eric Juergens, Debevoise, Plimpton, Lynn Martin
Organizations:
New York Stock Exchange, Inc, Astera Labs, University of Florida, Investment, . New York Stock Exchange, CNBC
Locations:
U.S, Klaviyo, IPOs, .