Solar shines outdoors of the Nasdaq MarketSite in New York, U.S., on Monday, Nov. 9, 2020.

Michael Nagle | Bloomberg | Getty Photos

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Snowflake is by far probably the most precious firm within the 2020 IPO class, sporting a market cap of over $73 billion. As tech buyers look to 2021, they could not see one other Snowflake, however they’re going to discover loads of fast-growing enterprise firms on the horizon.

In accordance with enterprise capitalists and tech bankers, not less than a dozen firms may elevate $1 billion or extra every in IPOs subsequent 12 months, although some could select to go public by means of direct listings. The extent of exercise largely is determined by how the market performs in a unstable financial system, which is being hit arduous by one other surge in coronavirus cases.

Primarily based available on the market’s current power, there’s motive for optimism. Following a post-election rally that is lifted inventory indexes close to file highs, client tech firms, together with Airbnb, DoorDash and Want, are rushing to hit the general public market by year-end as an alternative of ready till 2021.