Social media valuation at public market entrance 2024
Digital IPOs in the U.S.
The year 2021 was characterized by the highest number of IPOs recorded in the U.S. since 2000, with over a thousand companies entering the public market. During the first years of the COVD-19 pandemic, the digital and tech sectors enjoyed stellar development thanks to the increase in usage and inflated adoption trends of digital solutions among global users. In comparison, 2022 was characterized by an unusually quiet public market. Snap Inc and Meta, as well as other social media platforms, reported a loss in expected revenue driven by a slowing advertising spending trend.While social video and streaming platform Rumble filed to go public via SPAC merger in September 2022, market volatility dragged IPO plans for others. At the end of 2023, the market appeared to be in recovery for digital companies. Fast-fashion brand Shein entered the U.S. public market in September, followed by Instacart in November.