Hungry Start-Ups Look to I.P.O.s as Venture Capital Dries Up

Wheezing unicorns may get a breath of fresh air from initial public offerings.

Unicorns, those technology start-ups like the cloud computing firms #Twilio and #Nutanix that have a valuation of $1 billion or more, risk running short of cash as venture capital dries up. The recent revival of I.P.O.s could offer them new hope. Company valuations may drop, but that beats the alternative of a suddenly thinning herd.

Only about 34 public offerings have priced so far this year, less than half the number that made it to market in 2015, according to Renaissance Capital. 

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