IS A CHILLY MARKET FOR IPOS ON THE BRINK OF HEATING BACK UP?

Summary from the TLDR Founders newsletter

Listings dropped sharply in 2022 and 2023 after a pandemic-fueled IPO boom in 2021. However, recent successful debuts from larger, profitable companies like Reddit and Astera Labs suggest investor appetite is returning, at least for higher-quality firms. IPOs are crucial for VC returns and the startup lifecycle, so a rebound would be welcome. M&A activity has been mixed, with deal values up but volumes down, favoring established startups over smaller ones. Continued stock market strength and more flexible investors could further boost exit prospects.