Fifteen years ago, exits for venture-backed companies were split about equally between IPOs and acquisitions. Now IPOs make up roughly 10% of exits, and acquisitions dominate the dreams of investors and company founders.
Agence France-Presse/Getty Images Investment banker Paul Deninger warns that the IPO decline isn’t happening in a vacuum. It’s hurting acquisitions too.
“Who are you going to sell to if there’s no one out there that’s public?” said Deninger, the senior managing director of Evercore, an investment banking and advisory firm. “We need to repopulate the buyer base.”
To read the full, original article click on this link: How the IPO Decline Hurts Startup Acquisitions - Venture Capital Dispatch - WSJ
