IPO market It’s still as frozen as a Nordic lake with fishing huts, but there are signs that a thaw is already underway.
According to news from Insider, TripActions, a unicorn in the corporate travel and expenses category, has filed a confidential filing to go public. According to the publication, the company is targeting a Q2 2023 official debut of around $12 billion. (Bloomberg’s Kathy Roof, a former tech cruncher, initially reported that TripActions was eyeing an IPO).
In the year The news warms our hearts as we dearly missed S-1 films, the exclusive launch news we were fed during the 2021 boom, but were forced to learn to live without this year due to falling public market prices and falling public market prices. Some early startups closed the IPO window a few quarters ago.
Join us on the heels of the 2022 Instacart S-1 and possibly the first we’re expecting — yet — now that we have not just two IPOs on our dockets, but two potential ones. DecPublic supplies of corn. These big, noisy, big-dollar trades generally provide valuable information for the market’s appetite for tech stocks and shine a light on two important startup sectors. Hell yeah, we’re excited. Nothing like a little new information to fill in the gaps in our understanding of today’s market.
Today, we’ll discuss what we hope to learn from each IPO filing and which startups will be impacted by those specific data points.
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Remember that before Instacart changed CEOs, it had a big boom by growing fast, accelerating its growth and sticking to its IPO timing guns.
TripActions is different. The pandemic didn’t immediately help business — in fact, it boosted it a bit. But the company has shaken up the model by expanding its product portfolio in the process, and now, with the return of business travel, it is satisfied with the results to the point that an IPO is in the cards.
S-1 hopes, IPO dreams
Since it’s ground we’ve trod before with Instacart, we know the company’s revenue is accelerating and that Covid-19 has brought consumer behavior closer to the product to an alarming level.
We also learned that the company is gradually cutting staff, which will get its profit metrics in the right place, to sell shares to public market investors, the word of the day. ProfitOr maybe “efficiency rather than growth” after all.
