Unicorns, IPOs and the fear of repeating the late 1990s
2019 likely to break the record for IPOs set in 1999
Epoch Investment Partners' Kevin Hebner
The current hype about two-sided digital platforms, blitzscaling and winner-takes-most markets has fuelled a surge in IPO listings. As a result, a rising tide of doomsayers have warned that we are repeating the excesses of the dot-com boom.
One consequence of this dynamic is there are now over 360 unicorns (privately held start-up companies valued at over $1bn) globally, with most in tech-related sectors. To illustrate, last year delivered...
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