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Axios Apr 16
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Silicon Valley forecast: IPO wave from startups

Rider users Uber app in London
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."
Axios 23 mins ago
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Axios situational awareness

Jonathan Swan 28 mins ago
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Emmanuel Macron’s master class in soothing Trump

Illustration: Lazaro Gamio/Axios

As French President Emmanuel Macron today begins his State Visit with President Trump, a source who has watched the two men in action says that Macron, a former investment banker, treats Trump like a "prized client" — with a combination of flattery, attentiveness and wariness. Macron "has run a master-class on the care and feeding of POTUS," the source says.

The big picture: Trump this week is Continental Man, hosting a private dinner with Macron at Mount Vernon tonight; a press conference with the French leader tomorrow, followed by the first State Dinner of the 15-month-old administration; and then on Friday, a White House meeting with German Chancellor Angela Merkel.