Apr 16, 2018

Silicon Valley forecast: IPO wave from startups

Uber is worth billions and is still private. Photo: Chris J. Ratcliffe/Bloomberg via Getty Images

"Investors, bankers and analysts [expect] a wave of initial public offerings to bring some of the most highly valued and recognizable start-ups to the public market over the next 18 to 24 months," the New York Times' Jack Nicas reports from San Francisco.

Why it matters: That means "billions of dollars in returns to their executives and investors," the report says.

  • "The potential bonanza would follow years of waiting as a few dozen companies amassed valuations without precedent in the private market."
  • "[I]nvestors, who back tiny start-ups with the hope that they will someday go public or be sold for nine- or 10-figure sums, have enjoyed enormous paper gains in recent years. But few have cashed in, because their fast-rising companies, like Uber and Airbnb, have remained private."

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Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 1:30 p.m. ET: 887,067 — Total deaths: 44,264 — Total recoveries: 185,541Map.
  2. U.S.: Total confirmed cases as of 1:30 p.m. ET: 190,740 — Total deaths: 4,127 — Total recoveries: 7,141Map.
  3. Federal government latest: Vice President Mike Pence said that White House modeling suggests "Italy may be the most comparable area to the United States" in terms of the impact of the coronavirus pandemic.
  4. State updates: Florida and Pennsylvania are the latest to issue stay-at-home orders, totaling 34 states and D.C.
  5. 2020 update: New York is latest state to delay primary — Bernie Sanders urges Wisconsin to delay April 7 primary.
  6.  🎧 Podcast: The Defense Production Act
  7. What should I do? Answers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it.

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West Virginia is latest state to delay primary due to coronavirus

Photo: Barbara Davidson/Getty Images

West Virginia Gov. Jim Justice rescheduled the state's May 12 primary election to June 9 on Wednesday, citing fears surrounding the coronavirus pandemic, AP reports.

Why it matters: 23 other states and the District of Columbia haven't held primaries yet. The White House is recommending, for now, that Americans practice social distancing and gather in groups of no more than 10 people — while many states have issued stay-at-home orders.

Go deeperArrowUpdated 33 mins ago - Politics & Policy

Florida governor issues stay-at-home order

Photo: Joe Raedle/Getty Images

Florida Gov. Ron DeSantis ordered a statewide stay-at-home order on Wednesday after the number of coronavirus cases in the state rose to nearly 7,000.

Why it matters: DeSantis has been criticized for declining to order any statewide mandates to curb the spread of coronavirus as Florida — home to a significant elderly population — has increasingly become a hotspot. The order will go into effect Thursday at midnight and last for 30 days.

Go deeperArrow33 mins ago - Health