With just 28 technology companies entering the U.S. public markets, 2015 was the worst year for IPOs since 2009, according to Dealogic. This compares to 62 last year and 48 the year before, with 131 “unicorns” opting to remain private longer.
“We haven’t seen so few tech IPOs since the 2008-09 U.S. financial crisis,” notes Kathleen Smith, principal at IPO ETF Manager, Renaissance Capital. “Biotech has taken over where tech left off.”
