U.S. startups generated $12B in value from 471 exits through M&A and IPO transactions in the first half of the year. Pitchbook estimates that exit values will likely only reach $20B by this year's end at the current rate. The year-end estimates point to a 97% decline over 2021's record high of $777B. 2023 will likely record the lowest exit value in the past 15 years. - In 2022, U.S. startups recorded $75B in exits, 90% lower than the preceding year.
- Many startups, including Turo, Sagiment Biosciences, Reddit, Instagram, and Stripe, shelved their respective IPO plans after the market conditions deteriorated in the past 18 months.
- Companies are waiting for the interest rates to cool down and geopolitical conditions to stabilize, which may indicate an improvement in investor appetite for IPOs.
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