SpaceX is reportedly lining up four major Wall Street banks for a 2026 IPO that could provide the reset the market needs. <\/p>\n
The company just completed a tender offer at an $800 billion valuation, and secondary market demand is through the roof. If SpaceX goes public anywhere near its rumored $1.5 trillion valuation, it could trigger an IPO cascade for other late-stage unicorns like OpenAI, Stripe, and Databricks. <\/p>\n
Today on TechCrunch\u2019s Equity podcast, Rebecca Bellan spoke with Greg Martin, Managing Director at Rainmaker Securities, to discuss why this IPO feels different, how tech employees are cashing out through secondary markets before companies go public, and what investors are actually looking for in pre-IPO shares. <\/p>\n
Chapters:
\n00:00 Introduction<\/p>\n
01:39 The Booming Secondary Market for Pre-IPO Shares<\/p>\n
04:06 SpaceX as an IPO Bellwether<\/p>\n
06:31 Why Elon Musk Changed His Mind on Going Public<\/p>\n
10:04 The Race to a Trillion-Dollar Valuation<\/p>\n
12:27 The Elon Halo Effect on Valuations<\/p>\n
15:17 What Signals an Upcoming IPO?<\/p>\n
17:50 How Secondaries Drive Better Price Discovery<\/p>\n
20:47 How SpaceX Secondaries Actually Work<\/p>\n
24:03 What Investors Want from Pre-IPO Companies<\/p>\n
25:11 The Have and Have-Not World of Secondaries<\/p>\n
26:42 Outro
\nSubscribe to Equity on\u00a0\u2060YouTube\u2060,\u2060\u00a0Apple Podcasts\u2060,\u2060\u00a0Overcast\u2060,\u2060\u00a0Spotify\u2060\u00a0and all the casts. You\u00a0also can\u00a0follow Equity on\u2060\u00a0X\u2060\u00a0and\u2060\u00a0Threads\u2060, at @EquityPod.<\/p>\n","protected":false},"excerpt":{"rendered":"
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