The SaaS markets peaked in December 2021, and so did SaaS IPOs.  Per CNBC, HashiCorp in December 2021 was the last top-tier tech IPO to go out.

It’s been quiet since then, and while many top SaaS startups have now crossed $200m ARR, they’re all waiting until 2024 to IPO.  So it likely will be 24+ months of a closed IPO window for SaaS and most tech stocks.

It’s not all bad news.  Nasdaq has actually had a pretty good year, and many Cloud and SaaS leaders have seen their stock prices run up 20%, 30% or more this year.  Salesforce has crossed a $200 Billion market cap again.

But it likely will be 2+ years that the SaaS IPO window will have been closed.  That’s a long time from the IPO-a-Day we saw at the peak in 2021.

It Was an IPO-a-Day in 2021. We’ve Never Seen That Before


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