Tech Startup Pure Storage to Test Appetite for IPOs
The debut of flash-storage company Pure Storage Inc., if successful, would send a signal that a difficult summer for tech IPOs was an outlier, and that investors will still put money to work when highly anticipated companies debut.
However, if the market debut for the startup—valued at more than $3 billion privately—goes poorly, investors say it will spark fears that there is a long winter ahead, especially for the more than 120 private tech firms valued at $1 billion or more.
“All eyes are on this deal to see what the tech IPO landscape will be for the end of the year,” said Kaylan Tildsley, a partner at Triton Research LLC, which provides data and research on private tech companies. The implications are particularly important because “the backlog of private technology companies with the potential to IPO is massive,” she said.Read full article at wsj.com