Some of the biggest VC-backed companies are already showing significant interest this year in going public via direct listings, Pitchbook reports. Cryptocurrency specialist Coinbase and game developer Roblox have filed for such debuts, while data software providers Databricks and UiPath have raised massive financing rounds, which could clear the way for them to choose this option.
Pitchbook in a new analyst note explores why companies valued at more than $5 billion might pick a direct listing over a SPAC deal, and why a wider range of businesses could pursue this path to the public markets. A key benefit: A direct listing, combined with a large private funding round, can allow large unicorns to select the specific pricing and investors they want. Read more.
Why Unicorns May Prefer Direct Listing Over a SPAC Deal: Report
