
Just when you thought the sizzling world of tech had no more fire to give, think again.
The streets are buzzing and investors are on the edge of their seats as not one, but two tech unicorns prepare to dazzle Wall Street this week.
Instacart – the ‘Uber’ of grocery delivery – is not just tiptoeing, but galloping into the public domain with a jaw-dropping valuation of a WHOPPING $8.3 billion.
If you thought that was big, chew on this: Instacart is dominating nearly a QUARTER of the $132 billion U.S. online grocery-delivery sector.
And his tech titan is hyping up a future straight out of sci-fi with AI-powered smart carts.
Instacart played hard to get last year, pulling back its plans to go public.
But now? They’re back and hotter than ever.
On the other hand, Klaviyo – the ‘Knight in Shining Armor’ for digital marketing – has upped its IPO game with a cool valuation of $7.3 billion.
Watch out for its grand entrance under the ticker “KVYO.”
But the excitement doesn’t stop there.
A lineup of underdogs is set to make waves.
Game on for Gamer Pakistan with a neat $115 million cap, Xjet zapping in with $77 million, and Global Mofy Metaverse aiming for the stars with $130 million.
Last week?
A whopping $5.4 billion was raised across 5 IPOs.
And, Arm – not just an appendage but THE tech powerhouse – saw a 25% jump on its debut.
However, the tides turned as Bernstein, the industry’s crystal ball, hinted at possible overhype for Arm’s AI prospects.
And here’s a bonus for shoe lovers.
The iconic German sandal mogul Birkenstock is getting Wall Street-ready, set to debut on the New York Stock Exchange.
IPO mania is REAL.
The Renaissance IPO ETF has rocketed up by 34% this year, leaving the S&P 500 in the dust with 16%.
Stay tuned, 2023 is turning out to be one for the IPO books.