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This week, our lead story on The Draft focuses on the notable decline in initial public offerings (IPOs) happening in the global tech industry. The past year was a very stiff one for the IPO market, as private tech companies eager to make their debut on U.S. and global exchanges suspended their IPO plans in the face of macroeconomic headwinds.
Following a record year for IPOs in 2021, IPO sunk in 2022 as volatility increased as a result of rising geopolitical tensions, inflation and aggressive interest rate hikes. Weakened stock markets, valuations and post-IPO performance in the year also deterred IPO investor sentiment.
Read all the details you need to know on this story – and other important technology stories, including tech layoffs, product launches, startup funding deals, and mobile insights – in this week(end)'s edition of The Draft.
Happy New Year!