At this inconvenient time, the IPO market is flatlining. While private markets remain risky, a significant exit route for startups – and investor liquidity – appears too closed. The Justworks IPO delay in the United States, which pulled the plug on its debut close to when it was set to price and float, was our first sign that this was the case. Because of softer-than-expected market circumstances, the HR-focused software company’s IPO had to postpone.
However, a single IPO delay, even if it comes with some explanation as to why it delayed, is not indicative of a trend. As a result, TechCrunch has been holding off on stating categorically that the global technology IPO market is now on a lunch break. Today was the day.
WeTransfer’s parent business, WeRock, announced this morning that its IPO been postponed. The Dutch firm was due to go public on the Euronext Amsterdam stock exchange, providing liquidity to its founders, staff, and external backer Highland Europe. To top it off, a fascinating SPAC deal involving space and flying objects hit turbulence once it reached Max Q and started trading this week.
It is a crucial question for the ever-increasing number of unicorns on the planet. The M&A market are slow due to rising antitrust attitude in regulating bodies. What is next for initial public offerings? WeRock transforms into WeWait. WeTransfer, WeRock’s principal product, is a SaaS firm featuring a variety of subscription tools. The company describes itself as an “ecology of creative productivity tools” that it monetizes through subscriptions and adverts, according to its official prospectus.
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