As 2023 comes<\/span> to a close, a critical cohort of tech companies has regained the value it lost after the summer rally, potentially setting the stage for a stronger IPO cycle in early 2024 than some may anticipate. Cloud stocks are back, y\u2019all!<\/p>\n The Exchange explores startups, markets and money. <\/em><\/strong><\/p>\n Read it every morning on TechCrunch+<\/a> or get The Exchange newsletter<\/a> every Saturday.<\/em><\/strong><\/p>\n Let\u2019s do a quick recap to refresh our memories.<\/p>\n Earlier this year, we saw three companies go public in quick succession: Arm, Instacart and Klaviyo<\/a>\u2018s IPOs represented a liquidity peak, but they failed to inspire other tech companies to a rush towards the public market.<\/p>\n
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<\/a>The three companies had pretty good IPOs, too, but they mostly failed to make the sort of splash some had hoped for. Arm\u2019s stock has performed well compared to its IPO price (trading at $71.30 per share today, up from its $51 list price), but Klaviyo and Instacart haven\u2019t fared as well. Klaivyo\u2019s shares are trading 24 cents above its IPO price, while Instacart\u2019s stock is trading at about $5 less than its listing price this morning.<\/p>\n<\/p><\/div>\n