IPO Window Cracks Open and Silicon Valley Sees Some Daylight
Steve Huffman, co-founder and chief executive officer of Reddit, on the floor of the New York Stock Exchange
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
Hi, it’s Katie Roof in Los Angeles, looking at whether two IPOs will lead to more of the liquidity Silicon Valley has been craving. Also today, Goldman explores selling a hotel chain and Elliott gets a win at Match.
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Silicon Valley’s money machine has been missing a key part for the past two and a half years: liquidity.
Now after some false starts, last week’s successful IPOs by Reddit and Astera Labs have encouraged venture capitalists that equity capital markets are indeed welcoming new listings.