There are things like interest rates, discount rates, regulation, public market performance, economic growth, inflation, etc. that have a very real impact on the viability of the IPO market.
The IPO market, in turn, has a very real impact on the trajectory of companies that are aiming for it.
“The market is looking for stability.” Bonnie Hyun, U.S. head of capital markets at the New York Stock Exchange, helped explain why the Fed’s decision-making is so influential to IPOs: Interest rates are directly correlated to discount rates, which are used to calculate the present-day value of future cash flow of a company, she explains.
If the IPO market does reopen this year, which companies will go public first? Martin and Anderson tell me that investors continue to show sizable interest in shares for bluechip startups like SpaceX, Stripe, Rubrik, Klarna, Bytedance, and Databricks, among other late-stage tech stocks-making these companies worthy candidates if they decide to go public.
Source: https://fortune.com/2023/01/09/2023-ipo-market/