Stories

Tech IPOs faced unexpected headwinds in 2017

Illustration: Rebecca Zisser / Axios

2017 was a year of change and sluggishness for tech IPOs, against a backdrop of record-high stock market prices.

Why so complicated: The arrival of alternative mechanisms, rocky performances from some high-profile issuers (e.g., Snap, Blue Apron), the arrival of deep-pocketed SoftBank, and a renewed public market emphasis on profitability over growth.