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Emil Michael, former Chief Business Officer at Uber and current CEO of DPCM Capital, discusses the delay in tech IPOs, profitability of ridesharing companies, Uber's relationship with Benchmark Capital, and advice for founders on choosing VCs and keeping execs and the board in alignment.
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- Tech companies faced challenges in going public due to the pressures of quarterly analyst expectations, but as the market recovers, we can expect to see backlogged IPOs from companies like Canva, Revolut, Stripe, and Instacart.
- Uber's stock performed exceptionally well in 2023, showcasing its position as a world leader in ride sharing and solidifying its profitability and success.
Deep dives
The Impact of Private Markets on Tech IPOs
During a period of zero interest rates, tech companies chose to stay private and avoid the pressures of quarterly analyst expectations. However, when the markets closed, these companies faced difficulty going public and receiving the same multiples they had when they were private. As the market recovers, we can expect to see backlogged IPOs from companies like Canva, Revolut, Stripe, and Instacart.
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