Introduction

In February, audio-aware company Boat announced that it was ready to go public. But just a couple of weeks ago, Boat decided to abandon those plans. And Boat isn't the only one to do this - even Finn Tech major Mobiwick seems to have shelved all plans to go public for now. So why are tech companies getting cold feet? Well, let's go back to something we have talked about during Boat's first IPO announcement. You see, in Jan 2021, Boat raised $100 million from PE firm Wobberg Pincus. It was valued at $300 million but when the IPO was announced, Boat's valuation suddenly jumped seven times to nearly $2 billion