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If you squint, you can see the lineup for tech initial public offerings starting to shuffle together, after a year and a half of dawdling. There’s Arm, the SoftBank-backed chip designer that expects to list on the Nasdaq sometime after Labor Day. The fall could also bring debuts for Klaviyo, a marketing-tech firm backed by blue-chip venture capital firms, and Oddity, maker of TikTok-famous beauty brands. Maybe even Instacart, after long delays, will fire up the engines again.
These potential public debuts have more than just potential shareholder returns riding on them. There’s also pressure from peers. If the listings prove popular, highly valued venture-backed firms like Databricks, Fanatics or Discord could start making moves next year.
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