Instacart, Databricks and Socure are among the private tech companies reconsidering a stock market flotation
email rounding up the latestA group of Silicon Valley’s biggest private tech companies are dusting off long-delayed plans to list their shares, with the upcoming initial public offering of chip designer Arm set to provide a new gauge for market sentiment.
Instacart could be among the first to follow with an IPO before the end of this year, according to two people close to the matter. It first filed its intention to list in New York last May, but delayed plans due to market conditions. Nasdaq, the New York exchange on which Arm plans to list, has in 2023 recovered the bulk of last year’s losses and investors are increasingly confident that a small number of start-ups that shelved plans to list in 2021 could soon revive them.
Databricks chief executive Ali Ghodsi has repeatedly stated his intention to take the company public but Databricks “won’t be the first out”, according to a person with knowledge of its plans. The company “will watch and see how [Arm’s IPO] goes,” they added. Databricks chief executive Ali Ghodsi has stated his intention to take the company public but it is claimed Databricks ‘won’t be the first out’ © David Paul Morris/Bloomberg
In March, car rental app Turo filed an update to its IPO paperwork, signalling that it had not given up on plans first made in 2021 to float. In May, data automation firm Klaviyo, last valued at $9.5bn, filed confidentially to list in New York — an early step to a flotation.
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