It's been 20 months since a notable venture-backed tech company went public in the U.S., and the chatter in Silicon Valley has centered around who will break the ice.
The three companies have very little in common, but collectively they represent a test of the excitement level among public market investors for new opportunities.
Depending on how they perform out of the gate, their offerings could propel others to follow in the fourth quarter.
By "yesteryear," Buyer is referring to the kinds of valuations tech companies were achieving in 2020 and 2021, which were record years for tech IPOs.
DoorDash, which is probably Instacart's closest public market comparison, currently trades at 3.8 times revenue.
Persons:
It's, Japan's SoftBank, Lise Buyer, yesteryear, DoorDash, Andreessen Horowitz
Organizations:
Nasdaq, V, Software, Sequoia
Locations:
U.S, yesteryear