Why are unicorns pushing back IPOs when the Nasdaq is near record highs?

摘要： The unicorns are still at it, Vision Fund 2 or no Vision Fund 2.

This week, Instacart announced that it has raised fresh capital at a valuation north of $13 billion. And, on the tail of that news item, DoorDash is looking to add more cash at a valuation that could stretch to a pre-money valuation that exceeds $15 billion, according to The Wall Street Journal.

Both announcements make it plain that late-stage unicorns are still able to attract huge sums despite a putatively uncertain, if recently excitable IPO market.

It’s an interesting state of affairs, as the prices that super-late-stage unicorns are able to charge private investors push their valuations so high that only the largest and richest companies might be able to afford buying them. The result could be a closed M&A window that leaves only an exit hatch marked “IPO.”

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轉貼自： techcrunch

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