Apttus, Tintri, Okta, never heard of them? Well they are the more obscure unicorns in Silicon Valley, startups valued at over $1 billion. But it's these no names that should collectively help thaw the IPO market in 2017. More so than just the highly anticipated listing of the messaging app Snapchat, which could raise as much as $4 billion as Reuters M&A reporter Liana Baker.
>> I spoke to the top investment bankers in the space and they're expecting between 30 and 45 technology IPOs in 2017. A lot of those companies that were founded six, seven years ago, they've been waiting to go public for years and, finally, they see some good signs. In 2016, we saw a couple go public, Twilio, Nutanix, Coupa, that are now trading well above their IPO offering price.
So that gives these other ones confidence that they, too, could have a good offering.>> Tech IPOs in 2016 hit a record low, with only 20 getting out of the gate. And many companies held back after some tech companies, like Box and Pure Storage went public at lower valuations than their last private fund raising rounds.
So, who are these unicorns with names that confuse the spell check? Many of them are business to business software companies.>> These companies are hard to pronounce, Okta, Tintri, Yext, but a lot of them have evaluations that are over a billion dollars and they actually are well known in circles that where investors follow enterprise software really closely.
They're not Snapchat, but the kinda returns that they'll give their investors, they might as well be for the people involved.>> But if these unicorns help breath some life into the tech IPO market in 2017, it could set the stage for the giants like airbnb and Uber to eventually join the party.