The enterprise-capital workplaces round Silicon Valley stay largely empty, however their coffers will quickly be brimming after what has formed as much as be a surprisingly resilient year for technology startups.
The preliminary public choices this week of DoorDash Inc. and Airbnb Inc. cap a string of listings which have helped make this the most lucrative year on record for IPOs by way of cash raised.
Greater than $157 billion has been raised as of Thursday, based on information supplier Dealogic—over a 3rd of that previously 11 weeks—and the variety of listings is the most important for the reason that ultimate hurrah of the dot-com growth in 2000.
The hovering public choices are showering returns on a few of the greatest names in tech investing, specifically Sequoia Capital, which backed each DoorDash and Airbnb in addition to cloud-computing firm Snowflake Inc. and videogame firm Unity Software program Inc., all of which ranked among the many 12 months’s 15 greatest listings, based on Dealogic.
The end result is a far cry from the warning Sequoia sent to its founders and CEOs in March urging them to arrange for turbulence and disruption due to the pandemic.