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NASDAQ CEO Adena Friedman isn’t surprised we haven’t seen a resurgence in startup IPOs yet
While the S&P 500 has had a strong year, that doesn't mean startups are missing out by not going public yet.
While many venture investors, and likely their LPs, were hoping IPOs were going to come back in 2024, that hasn’t happened and isn’t likely to in the next two months. Friedman said at Axios’s BFD event on Tuesday that while on paper the public markets have been experiencing a spectacular year with the S&P 500 up about 22%, there’s more to the story than the headline number. And, in this atmosphere of higher interest rates, any company that is still in the red and burning through cash to support its growth, could face a particularly harsh reception from public investors.
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