While this year hasn’t seen an initial public offering (IPO) rebound, the CEO of Nasdaq reportedly isn’t surprised.
That’s according to a report Sunday (Oct. 27) by TechCrunch, citing Adena Friedman’s comments at a recent Axios event.
She said that while the public markets have seen a banner year, not every company is benefiting, including those with smaller valuations.
“It’s a little bit of a tale of two cities,” Friedman said. “Large cap, which has done very well, and you can kind of see in the S&P 500, you have a 10% kind of valuation increase in a large cap. But if you look at the small cap index, they’re actually down 10%.”
And many late stage companies, she added, are not fully ready for an IPO. They want to debut after a strong year, which has been tougher with interest rates high.
“They want to have 12 months of really strong performance before they start to think about coming out,” Friedman…
