• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
FinanceUnicorns

Don’t Expect Unicorn IPOs to Make a Comeback Any Time Soon

Barb Darrow
By
Barb Darrow
Barb Darrow
Down Arrow Button Icon
December 28, 2016, 1:02 PM ET
Unicorn on hilltop
Lucy von Held — Getty Images/Blend Images

Initial public offerings for unicorns—private companies with valuations of at least $1 billion—have been rare this year. Cloud communications startup Twilio, launched its IPO in June; data center hardware maker Nutanix in September; and business software company Coupa soon thereafter.

But for other notable unicorns like security firm Palantir, Uber, and Snapchat—nothing yet.

And it doesn’t look like the push for tech IPOs will pick up much any time soon, a perception reinforced by a new survey by Sharespost, a San Francisco company that tracks data about private companies and helps them trade their shares.

Nearly two-thirds (or 65%) of the 600 investors responding say they expect to see maybe 10 unicorn IPOs over the next 18 months. That’s hardly a groundswell, but, as Sharespost suggest, it is in line with historical trends.

Those findings suggest there will be about two $1 billion tech IPOs per quarter, with results varying a tad based on type of investor responding. For example, institutional investors who focus on public companies are marginally more optimistic, putting total expected IPOs in the next 18 months at 11, while venture capital and private equity-focused respondents think nine is a more likely number.

Get Data Sheet, Fortune’s technology newsletter.

When asked which of 15 tech categories they saw as providing the best growth opportunities going forward, the winners across all investor subgroups were: big data/analytics, security software, virtual reality/augmented reality, financial tech, and wearable devices.

In addition, Sharespost noted that all investment groups surveyed saw better long-term growth potential in enterprise software as opposed to consumer mobile or web/Internet companies.

For more on unicorns, watch:

This was somewhat surprising because three out of five of the most valuable public companies—Google (GOOG), Amazon (AMZN), and Facebook (FB)—are lumped into the Web/internet category. Just one—Microsoft (MSFT)—is perceived as an enterprise software company.

About the Author
Barb Darrow
By Barb Darrow
See full bioRight Arrow Button Icon

Latest in Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • Future 50
  • World’s Most Admired Companies
  • See All Rankings
Sections
  • Finance
  • Leadership
  • Success
  • Tech
  • Asia
  • Europe
  • Environment
  • Fortune Crypto
  • Health
  • Retail
  • Lifestyle
  • Politics
  • Newsletters
  • Magazine
  • Features
  • Commentary
  • Mpw
  • CEO Initiative
  • Conferences
  • Personal Finance
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map

© 2025 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.


Latest in Finance

tariffs
PoliticsTariffs and trade
53-year-old customs broker wants to ‘Make Trade Boring Again,’ saying you won’t believe how complex cheese is these days
By Matt Sedensky and The Associated PressDecember 24, 2025
5 hours ago
gas
Energyoil and gas
Americans may be angry about affordability, but gas prices are the cheapest they’ve been all year in most states
By Wyatte Grantham-Philips and The Associated PressDecember 24, 2025
6 hours ago
Big TechTesla
Tesla faces NHTSA probe over Model 3 emergency door handles
By Dana Hull and BloombergDecember 24, 2025
8 hours ago
Donald Trump, standing in the Oval Office, frowns and looks to the side.
Economyaffordability
Obama’s former top economic advisor says he feels ‘a tiny bit bad’ for Trump because gas prices are low, but consumer confidence is still plummeting 
By Sasha RogelbergDecember 24, 2025
10 hours ago
EconomyMillionaires
Millionaire tax plans spread as Washington state eyes new levy
By Anna Edgerton, Casey Murray and BloombergDecember 24, 2025
11 hours ago
Dianna Tompkins sits on a stair in front of her home in Demotte, Ind., Dec. 17, 2025.
Arts & Entertainmentgovernment shutdown
When SNAP payments stopped, a fast-moving nonprofit program rushed in with $12 million—and kept families fed
By James Pollard and The Associated PressDecember 24, 2025
11 hours ago

Most Popular

placeholder alt text
Retail
Trump just declared Christmas Eve a national holiday. Here’s what’s open and closed
By Dave SmithDecember 24, 2025
17 hours ago
placeholder alt text
Personal Finance
Financial experts warn future winner of the $1.7 billion Powerball: Don't make these common money mistakes
By Ashley LutzDecember 23, 2025
1 day ago
placeholder alt text
Personal Finance
Trump turns government into giant debt collector with threat to garnish wages on millions of Americans in default on student loans
By Annie Ma and The Associated PressDecember 24, 2025
17 hours ago
placeholder alt text
Economy
Obama's former top economic advisor says he feels 'a tiny bit bad' for Trump because gas prices are low, but consumer confidence is still plummeting 
By Sasha RogelbergDecember 24, 2025
10 hours ago
placeholder alt text
Success
The average worker would need to save for 52 years to claw their way out of the middle class and be classified as wealthy, new research reveals
By Orianna Rosa RoyleDecember 23, 2025
1 day ago
placeholder alt text
Success
'When we got out of college, we had a job waiting for us': 80-year-old boomer says her generation left behind a different economy for her grandkids
By Mike Schneider and The Associated PressDecember 23, 2025
2 days ago