After the successful IPO of Snapchat parent company Snap (SNAP) - Get Snap, Inc. Class A Report in March and Blue Apron (APRN) - Get Blue Apron Holdings, Inc. Class A Report last month, many have wondered when the next unicorn to go public will be. We've gotten some hints (and some explicit information) on some of the companies that are household names, but we're still clamoring for more.
In the first of 2017, 52 companies went public in the U.S., raising $11 billion, according to institutional research firm Renaissance Capital, which tracks initial public offerings. The average IPO gained 13% from its offering price, with companies in the technology and consumer spaces leading. Though Blue Apron cut the price of its offering on fears of Amazon's (AMZN) - Get Amazon.com, Inc. Report intention to buy Whole Foods (WFM) would affect the business, Renaissance noted the offering "was another sign that billion-dollar tech companies will come public when the need for capital outweighs the fear of valuation pushback."
As such, Renaissance added that even though companies have delayed their IPOs for a number of reasons, there is "a building backlog and a strong IPO market have set up a strong base for the 2H17."
Using data from Renaissance Capital, we're pointing to these ten companies that could be the next hot technology companies to go public.
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