{"id":62982,"date":"2023-09-19T11:13:26","date_gmt":"2023-09-19T15:13:26","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/ipo-market-braces-for-first-tech-unicorns-in-nearly-two-years\/"},"modified":"2023-09-19T11:13:29","modified_gmt":"2023-09-19T15:13:29","slug":"ipo-market-braces-for-first-tech-unicorns-in-nearly-two-years","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=62982","title":{"rendered":"IPO market braces for first tech unicorns in nearly two years"},"content":{"rendered":"
\n

The initial public offering market, fresh off its biggest transaction of the year, is expected to welcome five deals this week, including two venture capital-backed companies that will be the first tech unicorns in nearly two years. <\/p>\n

Grocery-delivery platform Instacart and digital-marketing company Klaviyo are expected to price their IPOs early this week and both have a valuation of more than $1 billion, which is the threshold to be considered a unicorn. <\/p>\n

\n

Instacart is planning to raise up to $660 million by offering 22 million shares priced at $28 to $30 each at a valuation of $8.3 billion. The company raised the price range on Friday, after the successful debut of Arm Holdings PLC
\n ARM,
\n -4.82%<\/bg-quote>
\n a day earlier. <\/p>\n

Read now:<\/strong> Instacart IPO: 5 things to know about the app that\u2019s looking to ride a \u2018massive digital transformation\u2019 in grocery shopping<\/p>\n

Instacart, which would trade under the ticker CART
\n CART,<\/span>
\n already controls around 22% of the $132 billion U.S. online grocery-delivery market, according to Evercore analysts. The company is banking on a bigger online future for purchases of household essentials, one that over the decades could include more mobile checkout, electronic shelf tags and what Instacart describes as \u201cAI-powered smart carts.\u201d<\/p>\n

A stock-market debut for Instacart, which was founded in 2012, would come after the company last year\u00a0reportedly\u00a0shelved its plans to go public after decades-high inflation, recession fears and a post-pandemic tech-industry slump\u00a0soured investor appetites for IPOs. Last year, Instacart cut its valuation multiple times, but the company raised it this year to around $12 billion, according to\u00a0the Information.<\/p>\n

Klaviyo revised the terms of its IPO early Monday, with plans to offer 19.2 million shares\u00a0it hopes will price between $27 and 29 each, up from a prior range of $25 to $27, potentially raising up to $556.8 million at a valuation of $7.3 billion.<\/p>\n

See also: <\/strong>Klaviyo IPO: 5 things to know about the digital marketer trying to cut through the spam<\/p>\n

The stock is expected to be listed on the New York Stock Exchange under the ticker symbol \u201cKVYO.\u201d Goldman Sachs, Morgan Stanley and Citigroup are the lead underwriters.<\/p>\n

Rounding out the list are Gamer Pakistan, which is aiming to raise $8 million at a $115 million market cap; Xjet
\n XJET,
\n <\/bg-quote>,<\/span>
\n an Israeli 3-D printing company that plans to raise $6 million at a $77 million market cap; and Global Mofy Metaverse
\n GMM,
\n <\/bg-quote>,<\/span>
\n a Chinese tech company that is aiming to raise $6 million at a $130 million market cap.<\/p>\n

Last week, five IPOs raised a total of $5.4 billion, led by Arm, which raised $4.9 billion at a $52.9 billion market cap. The stock gained 25% in its debut and finished the week up 19%. <\/p>\n

On Monday, Arm\u2019s stock fell 7.6% after Bernstein, which was not involved with its IPO, weighed in with a bearish rating of underperform. <\/p>\n

\u201cWhile expectations that Arm will be a beneficiary from AI growth may be adding a premium to the share price, we believe it is too soon to declare them an AI winner,\u201d Bernstein\u2019s Sara Russo wrote in a Monday note to clients. \u201cIn addition, we remain more conservative on their ability to deliver increased royalty rates at the pace management is guiding.\u201d<\/p>\n

One noteworthy addition to the IPO pipeline last week was the iconic German sandal and clog company Birkenstock. The company is planning to list on the New York Stock Exchange under the ticker \u201cBIRK,\u201d but has not yet set terms. <\/p>\n

Renaissance Capital, a provider of institutional research and IPO exchange-traded funds, said Birkenstock is expected to raise about $850 million. <\/p>\n

For more, see:<\/strong> Birkenstock is going public: 5 things to know about the iconic German sandal maker\u2019s IPO designs<\/p>\n

The Renaissance IPO ETF
\n IPO
\n has gained 34% in the year to date, while the S&P 500
\n SPX
\n has gained 16%. <\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The initial public offering market, fresh off its biggest transaction of the year, is expected to welcome five deals this week, including two venture capital-backed companies that will be the first tech unicorns in nearly two years. Grocery-delivery platform Instacart and digital-marketing company Klaviyo are expected to price their IPOs early this week and both […]<\/p>\n","protected":false},"author":1,"featured_media":62983,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-62982","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nIPO market braces for first tech unicorns in nearly two years | iFintechWorld<\/title>\n<meta name=\"description\" content=\"The initial public offering market, fresh off its biggest transaction of the year, is expected to welcome five deals this week, including two venture\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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