VCs will get liquidity in 2024 from the secondary market, not IPOs

If you asked a bunch of VCs at the end of 2023 if the IPO market would finally open again in 2024, most of them would have said yes. We know because TechCrunch surveyed more than 40 of them in December and that’s what they said.

Yet, there are two weeks left in Q1, still no completed major IPOs, and very few in the works. Reddit is the only big-time IPO far enough along to be priced. Otherwise, there is just speculation on who might go public, with very few public SEC documents. For instance, there’s Shein who reportedly filed a confidential S-1 last fall, or car rental marketplace Turo who is still waiting on the sidelines after filing its initial S-1 in 2022. READ MORE