From Plaid to Figma, here are the startups that are likely — or definitely — not having IPOs this year

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Last year’s investor dreams of a strong 2024 IPO pipeline have faded, if not fully disappeared, as we approach the halfway point of the year.
2024 delivered four venture-backed tech IPOs, Reddit, Astera Labs, Ibotta and Rubrik, in March and April, which made it seem like this year could spur the momentum investors had hoped for in 2023. But secondary investors and IPO lawyers recently told TechCrunch that despite these four successes, macro conditions like the upcoming presidential election and elevated interest rates, means the IPO market won’t fully reopen until 2025.
This year is still on track to be better than 2023, and we’ll likely see a few more public filings throughout the year Companies including Klarna and Shein have engaged with bankers and seem close the line, but their IPO timelines are still murky.
For the most part, it may be easier to decipher who isn’t going public this year rather than who is. Some CEOs of late-stage startups have directly stated they won’t IPO in 2024 while other companies have made financial moves that imply a public listing isn’t imminent. Here are some of the venture-backed tech companies we don’t expect to hit the public market this year.
TechCrunch is monitoring the late-stage startup and exit markets and will continue to update this article. If you have any tips or callouts to bring to our attention, contact me here: rebecca.szkutak@techcrunch.com.
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