Tech IPOs "dried up"
Barron's, in its weekly bearish take on Snap (this time comparing it to "Ill-Fated GoPro"), points out that "tech IPOs have all but dried up in recent years":
- "There were just 20 such offerings in 2016, the worst year since 2009.
- "Now we get to see if the well-received Snap offering is enough to usher in the next wave of IPOs, particularly with big 'unicorns' such as Uber Technologies, Airbnb, Spotify, and Dropbox lurking in the pipeline.
- "[T]he good times won't last forever. Eventually the market will correct, suspending IPOs yet again. For all the unicorns planning to go public, it could be now or never."