The Weekly Brief
03-02-2025
Thought of the week
Following a challenging few years, the US initial public offering (IPO) market showed encouraging signs of recovery in 2024. The year saw 72 IPOs*, up from 54 in 2023 - though still significantly below the peak of 311 listings in 2021. Technology companies accounted for 13 listings, while nearly 70% of all IPOs were backed by venture capital or private equity. Renewed optimism for increased IPO activity in 2025 reflects improving macroeconomic conditions, a backlog of private companies that need to be brought public, and potential deregulatory measures aimed at streamlining the listing process. However, the broader trend within the IPO market remains one of companies staying private for longer periods. In 2024, the median age of companies at IPO reached 14 years, in stark contrast to the average of 5.5 years during the dot-com boom of 1999-2000.
Companies are continuing to stay private for longer
Median age of a company at IPO, years

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