'Investors got really turned off,' said Kathleen Smith, principal at Renaissance Capital. 'I'll call it a buyer's strike.'
2019 was a tough year for unicorn startups — privately held companies valued at more than $1 billion — going public through an initial public offering process. Though the first half of the year was strong for IPOs,"investors got really turned off" after big disappointments from companies like Uber and Lyft, according to Kathleen Smith of Renaissance Capital. Still, the IPO market as a whole has outperformed this year.
2019 was a tough year for unicorn startups — privately held companies valued at more than $1 billion — going public through an initial public offering process. Though the first half of the year was strong for IPOs,"investors got really turned off" after big disappointments from companies like Uber and Lyft, according to Kathleen Smith of Renaissance Capital. Still, the IPO market as a whole has outperformed this year.
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