So, at least one tech company is holding back from an IPO this year. Despite expectations that Palantir might IPO in the second half of 2019, Bloomberg reports that is unlikely. The story says Palantir wants to build out its sales team, hire more experienced finance people and add extra independent board members. And while revenue growth last year was strong, it wants another year of growth before it goes public.
After the flurry of IPOs this year, some of which have bombed spectacularly (Uber, Lyft), waiting a little while longer makes sense. The risk is that the markets turn down, of course. Uncertainty about how long the stock market will stay buoyant appears to have prompted some companies to rush out in recent weeks. But as the experience of some of them has shown, company fundamentals are also crucial in attracting public market investors.