Multi-billion dollar startup that has raised money from Silicon Valley and other venture capital investors around the world has struggled as they graduated from hot private companies to listed stock on Wall Street.
The market is about to enter the IPO doldrums for a bit, without major offers expected for Slack's direct listing in June.
But the last weakness is not necessarily a bad sign on Slack – or Airbnb, WeWork or other high-profile private unicorn companies that are expected to consider IPOs later this year or 2020.
But dig deeper and you will find that several other recent IPOs have also done well beyond Beyond Meat. They just can't generate so many headlines, partly because they cater more to large corporate customers instead of average consumers.
For example, shares of web conferencing platform Zoom Video ( ) PagerDuty (which was published each time in April, has more than doubled from the offer prices. ]]
"Success in the public market is about predictability. Wall Street loves the subscription model," he said.
Therefore, Slack and Cloudflare, a web optimization software company, said to consider an IPO later this year, will be worth watering, Kerrest said. Cloudflare could get a fall in value of $ 3.5 billion.
Nevertheless, the ease of performance of Uber and Lyft can scare away any other unicorns from going public anytime soon, says Kelly Rodriques, CEO of Forge, a company that allows investors (including employees) of private companies to sell stocks before a stock exchange listing.
"Companies can now be set up to stay private a little longer. We don't see another great wave of IPOs," Rodriques said.