First Dropbox, now Smartsheet and Pivotal - here's why this year is seeing a rush of enterprise tech IPOs
- Smartsheet on Monday filed for an initial public offering, making it the latest tech startup to prepare to hit the public markets.
- This year has already been an active one for tech IPOs with Dropbox going public last week and Spotify slated to go out next week.
- The activity is in line with what tech investment bankers forecast for Business Insider.
This year is shaping up to be a hot one for initial public offerings in the tech industry - particularly in the enterprise software sector.
On Monday, Smartsheet filed to public, just days after fellow enterprise software startup Pivotal made the same move and after Dropbox debuted on the public markets with a bang. In the last month and a half, Zuora filed for an IPO, Zscaler completed its IPO, and DocuSign reportedly confidentially filed its public offering paperwork.
That's not all. Spotify is expected to go public next week. And Chinese online companies Bilibili and iQiyi, the streaming video division of online giant Baidu, are getting ready to go out.
The bustling IPO activity in the tech market is in line with what investment bankers who work with tech companies told Business Insider they were expecting.