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New York City has become a hub for women's health tech, with a fifth of all women's health tech deals in the U.S. occurring in the city in 2023. The city is attractive to women's digital health startups due to its progressive workplace culture and large health care industry, which makes up 16% of the city's GDP. Despite a decline in overall health tech funding since the pandemic, investments in women's health innovation grew by 5%. The city's success in the women's digital health sector is attributed to its rich network of investors and its extensive health care infrastructure, including over 200 hospitals and a large workforce of medical professionals. The growth of the life sciences industry in New York has also contributed to the success of the digital health sector. The success of women's digital health companies in the city is seen as a positive sign for the future of health tech in New York, as mature companies are likely to invest in expansions and fuel long-term growth in women's health. [Extracted from the article]

The IPO market in New York is expected to improve in 2024, although it had a decline in exits in 2023 compared to the previous year. The first companies to debut in 2024 will set the tone for the rest of the year, according to Aman Singh, a partner at Fenwick & West. There are 31 startups based in the New York metro area that are waiting to go public, with a combined valuation of over $106 billion and a total workforce of nearly 36,000 employees. The most common industries among these companies are enterprise technologies, financial services, and healthcare. Crypto firms are notably absent from the prediction due to regulatory pushback and declining asset value. However, there is excitement about the potential of AI in the IPO market. The outlook for 2024 is more promising, but investor optimism is tempered by disappointing debuts in 2023 and other uncertainties. Investors are shifting their assessment criteria for companies, focusing more on cost management and profitability rather than just growth. [Extracted from the article]

This article from Crain's New York Business discusses notable additions and absences from their annual list. The National Basketball Association and Ramp are new additions to the list, ranking at #6. However, Better.com, a company that had been on the list in previous years, experienced a significant decline in value after going public, with shares falling over 90%. Medly Pharmacy, which was ranked 84th on the list last year, filed for bankruptcy protection due to a lack of funds to purchase drugs, resulting in a significant drop in sales. [Extracted from the article]

Lineage Inc., a logistics company based in Novi, Michigan, experienced a successful initial public offering (IPO) on July 25th, resulting in a market value of nearly $21 billion. The company raised $5.1 billion by selling 65 million shares at $78 each, exceeding its original expectations. Lineage's CEO, Greg Lehmkuhl, expressed excitement about the company's future and expects the stock to continue trading positively. This IPO is seen as a significant breakthrough for Michigan, as more companies are choosing to go public rather than being acquired. Lineage, the world's largest cold storage warehouse company, plans to continue expanding through acquisitions and new facility development. [Extracted from the article]

Xiaohui (Hui) Lin, a partner at Simpson Thacher and Bartlett, has been recognized as one of Crain's New York Business's 40 Under 40. Lin specializes in capital markets and has advised companies on various transactions totaling over $240 billion in value. She has worked on high-profile deals such as Dell Technologies' acquisition of EMC Corp and Cava's IPO. Lin is also involved in mentoring lawyers and is highly respected for her intelligence, creativity, commercial mindset, judgment, and emotional intelligence. [Extracted from the article]

The developer ASTM has finally gone public with its plan to rebuild Penn Station, rolling out new designs of glassy train halls, details about its negotiations with Madison Square Garden and an eagerly awaited price tag for the entire project: $6 billion. But ASTM, a developer based in Italy that controls the American construction company Halmar, says its plan would not only cost less but also lead to a better outcome for Penn Station and its 600,000 daily riders. [Extracted from the article]

Rally, a SoHo company that lets investors buy shares in alternative assets like memorabilia and collectibles, has opened up the ground floor of its New York City office to the public. Experience economy Petrozzo said he hoped the museum would fit into the experience economy that has flourished in SoHo. [Extracted from the article]

Since Qiu joined Progyny in 2018, the company has gone public and expanded its customer base from 700,000 people to 5.4 million. Keywords: 20 IN THEIR 20S; 20 IN THEIR TWENTIES; TWENTY IN THEIR 20'S; TWENTY IN THEIR TWENTIES EN 20 IN THEIR 20S 20 IN THEIR TWENTIES TWENTY IN THEIR 20'S TWENTY IN THEIR TWENTIES 15 15 1 06/26/23 20230619 NES 230619 MELODY QIU, 29 Vice president of business strategy and analytics, Progyny Melody Qiu pays close attention to the numbers. As the vice president of business strategy and analytics at the fertility benefits company Progyny, Qiu parses data on patients' clinical outcomes, benefits use and costs to measure how her company provides care. [Extracted from the article]

Chicago's economy is expected to continue growing in 2024, although at a slower pace than in 2023. Moody's Analytics predicts that Chicago will lag behind the national average in terms of output and job growth. However, the risks of recession have diminished, and the economy is expected to have a soft landing. The return to the workplace is a significant factor for the Chicago economy, with about 56% of workers back in the office. The tourism and hospitality sectors could receive a boost from major events such as the Democratic National Convention and trade shows. The retail and restaurant industries may benefit from lower interest rates and stable inflation. The healthcare sector is still recovering from the pandemic, and dealmaking could rebound if interest rates drop. The investment banking sector may see increased IPO volume, but private-equity funds and venture-capital investment are likely to remain weak. Financial markets are expected to rally in 2024, with improving inflation and potential interest rate cuts. The banking sector may benefit from lower deposit rates. Manufacturing growth may be weaker due to high interest rates, but the long-term outlook for the industry is positive. The new Gotion battery plant could be a growth engine for the manufacturing sector. [Extracted from the article]

She noted that KindBody, a women's health tech company that offers fertility benefits to employers and provides gynecological care at its clinics, provides integrated care in a specific health area. Amid a slowdown in digital health investments that set the tone for 2022, a potential recession, dwindling initial public offerings and, now, the banking crisis have put additional pressures on an already-strained industry. [Extracted from the article]

Last year's list, which highlighted the watershed deal-making of 2021, raised the question of whether the trend would last. Deals and dollars nosedived in 2022, with the number of deals dropping by about 30% and the amount of venture capital poured into the city's startups was nearly halved, according to data from Crunchbase. [Extracted from the article]

The head of Tech:NYC is stepping down and will hand the reins back to the business group's founder, Julie Samuels. Samuels was the founding leader of the organization, which acts as a booster for local tech firms and out-of-town giants that have substantial office footprints in the city. [Extracted from the article]

An investigation by the Latch board uncovered a series of errors pertaining to how the company recognized revenue. Days after a number of its senior leaders departed, Latch, a maker of phone-activated locks that went public via a special-purpose acquisition company, said its accounting problems were more extensive than first thought. [Extracted from the article]

Union Square Ventures, a venerable 20-year-old venture-capital fund, halved the carrying value of its assets under management last year. According to Coinbase's filing before its April 2021 public offering, funds from Wilson's firm held 10% of Coinbase shares. [Extracted from the article]

UL Solutions, a Northbrook-based company, has become one of the first to disclose the risks of generative artificial intelligence (AI) in its IPO prospectus. The company highlights both the promise and peril of AI, including the potential automation of jobs, competition, and regulation. Generative AI has rapidly emerged as a disruptive technology, and UL Solutions aims to incorporate it into its business before competitors and customers do. However, challenges such as payment to training model creators and data protection concerns remain. The regulatory uncertainty surrounding AI also poses a risk to investors. [Extracted from the article]

S&P Global has suspended financial guidance for this year, a sign that market turmoil is taking a toll on top Wall Street institutions and posing a threat to the city's finances. S&P Global suspends earnings forecast because of "extraordinarily weak" markets S&P scrapped the reduced earnings target and said it planned to provide new financial guidance when it reported second-quarter results in the summer. [Extracted from the article]

The accommodation agreement indicates that automakers and tier-one suppliers are still willing to make financial concessions to suppliers to keep them afloat, as they did during the supply chain snarls over the past couple of years. Three of Unique Fabricating Inc.'s largest customers have agreed to bail out the insolvent supplier with price increases and investment of up to $15 million to tide over the company until it sells itself and restructures. [Extracted from the article]

When Latch, a maker of phone-activated locks, prepared to merge into a SPAC from Tishman Speyer CEO Rob Speyer, the fledgling Chelsea-based firm predicted revenue would grow from $18 million to $877 million by 2025. SPACs, or special-purpose acquisition companies, were one of the pandemic's great financial manias, along with dogecoin and meme stocks. [Extracted from the article]

NoMad-based telehealth company Thirty Madison, best known for hair loss and migraine treatments, agreed in February to combine with Nurx, an online company best known for providing access to birth control products - with no financial terms disclosed. Even in the exuberant startup investment market last year, many tech firms that went public saw their value decrease. Boosted by the conditions of the pandemic, city health care startups pulled in record funding from venture capital investors in 2020 and 2021 - powering local hires, real estate leases and new products. [Extracted from the article]

The digital health sector saw another record year for venture capital funding in 2021, with some of the biggest deals coming from New York health startups. Rock Health, a San Francisco-based seed funding company has been tracking venture capital deals monthly since 2011. [Extracted from the article]

Amid a flurry of initial public offerings for New York technology companies, the real estate firm Compass' $3.7 billion in 2020 revenue places it at the head of the class. Compass' debut on Crain's publicly held list at 64, is well ahead of other companies that recently went public such as used-car website Vroom and UIPath, the software automation company. Compass used venture capital dollars, most notably from SoftBank, to rapidly scale up its real estate services platform, buying up new tech and brokerages. [Extracted from the article]

In the early weeks of the pandemic, the direct-to-consumer luggage brand's revenue plummeted 90%. COMPANY SPOTLIGHT Away #112 Fast-growing startup Away hit a roadblock in 2020 as travel came to a screeching halt. In April co-founder Jen Rubio was named CEO, following the departure of controversial co-founder Steph Korey and interim CEO Stuart Haselden. [Extracted from the article]

Tusk Ventures' investments in cryptocurrency exchange Coinbase and smart-lock company Latch paid off as both firms went public. Although Bradley Tusk was most often in the news this year for his consulting firm's work on Andrew Yang's Democratic primary campaign, it was also a big year for his venture firm. GOTHAM BOOK PRIZE A New York-focused book contest co-launched by Tusk last year; the inaugural winner was Deacon King Kong. [Extracted from the article]

With their buildings mostly empty and their share prices in the gutter, Manhattan office landlords are attracting a most unwanted sort of tenant: shareholder activists. Inside baseball He criticized the company for paying $22 million in management fees and reimbursements during the past two years to a separate firm controlled by the REIT's chief executive, Michael Weil. Sapir's firm controls 2% of NYC REIT's stock. [Extracted from the article]

Toronto-based private-equity firm Onex, which invested more than $300 million in Ryan Specialty Holdings in 2018 and is now its second-largest shareholder, is selling two-thirds of its stake in an offering managed by Barclays for Ryan Specialty. The largest financial backer of Patrick Ryan's wholesale insurance brokerage firm is cashing out most of its winnings. [Extracted from the article]

As a company that was formed by private equity and grew via acquisition, the quick breakup and sale of mortgage lender Home Point Financial makes for an ironic finish. The deal with Mr. Cooper comes just more than one month after the struggling Home Point announced a sale of its core mortgage lending business to The Loan Store Inc., based in Tucson, Ariz. [Extracted from the article]

It's a time of hard choices for electric vehicle maker Rivian, and the hardest choice may be yet to come. Raising capital on its own will likely be a lot harder for Rivian now than it was in 2021, when investors poured $13.5 billion into the EV maker's initial public offering. Supply chain constraints persist, and Rivian will need to rev up capital spending again to reach production goals. [Extracted from the article]

#27 2019 RANK: 16 STACEY CUNNINGHAM President, NYSE Group STATS Roughly 2,800 firms trade about 1.5 billion shares on the New York Stock Exchange every day. "As communities around the world confront the challenging realities of Covid-19, the NYSE and its listed companies have come together to provide critical funds, resources and services to keep the economy moving forward", Cunningham said. They do whatever is necessary to make startups and their venture- capital backers feel good about listing their shares at the exchange when taking their companies public. [Extracted from the article]

Venture capital investment in startups founded by women is at record levels this year, helped by the growing number of women at VC firms and a surge in high-value deals. Startups with at least one woman co-founder raised $40.4 billion in the U.S. across about 2,700 deals through September, already surpassing the $23.7 billion raised in 2019 and $23.1 billion last year, according to a new report by investment research firm PitchBook. [Extracted from the article]

Amid a slew of recent big-name initial public offerings, including those of Rent the Runway and WeWork, is a public- markets milestone: A mixed-use Harlem building is getting its own listing, priced at $250 per share. Investors are accustomed to purchasing shares in publicly traded real estate investment trusts, or REITs, but that means buying shares in multiple properties within an asset class, often diversified geographically. [Extracted from the article]

For most firms, revenue plummeted in 2020. The company also plans an IPO in the near future, illustrating that businesses can thrive during challenging times. THE CRAIN'S LIST of top privately held companies is ranked by revenue earned last year, when the economy was in the throes of the Covid-19 pandemic. [Extracted from the article]

After a tumultuous 18 months that included layoffs and store closures, the Brooklyn-based startup, which rents high-end women's clothing, recently made public lits plans to debut on the Nasdaq in the coming weeks. Rent the Runway has joined the procession of New York technology startups going public - filing for an initial public offering that bets customers are ready to get dressed up despite a work-from-home era symbolized by sweatpants. [Extracted from the article]

Demand for New York office space from companies less than a decade old grew by 514% during the pandemic, according to a new report from real estate firm Newmark. New York startups keep breaking records. [Extracted from the article]

Ed Coury, managing director at RCS Real Estate Advisors, which has consulted with direct-to-consumer companies, said many brands spent aggressively on real estate in the years leading up to the pandemic and struggled when those stores were forced to close. Warby Parker opened its first retail store in 2013 near its headquarters in SoHo and had 142 stores total as of June 30. [Extracted from the article]

Chief Executive Joshua Peirez defends his company's work and contends Sterling is tops in a field that has grown rapidly in the past 20 years, to an estimated 2,000 firms producing $3.2 billion in annual revenue. Job gains spotlight "Wild West" industry: Sterling CEO claims a "low error rate", but watchdogs see trouble Employers are scrambling to hire, and business is booming at Sterling Check, a company that scrutinizes job applicants' past for information omitted in résumés and that doesn't come up in interviews. [Extracted from the article]

A third-party company, which Kozlowski declined to name, will produce the meals from Blue Apron and ship them to the company's warehouses, where they will be packaged with regular meal-kit shipments each week. Blue Apron, founded on the idea of making home cooking easier, is introducing meals for the simplest of kitchen tools: the microwave. [Extracted from the article]

Klaff Realty was part of an investor group led by New York-based Cerberus Capital Management that joined forces in 2006 with CVS and grocery chain Supervalu to acquire Albertsons. A Chicago real estate investor who once bid on the Chicago Cubs could see a big payday if the proposed $24.6 billion merger of grocery store giants Kroger and Albertsons goes through. [Extracted from the article]

Investors might balk at putting more money into a cash-burning manufacturer beset by operational woes, potentially forcing Rivian to seek a buyer for the entire company. Rivian is struggling to accelerate production of electric pickup trucks and SUVs as new rivals pile into a market it hoped to dominate and union organizers take aim at the company's downstate factory. [Extracted from the article]

We look forward to working with the Gilead team to advance new treatment options for RA and lupus patients", Evoq CEO William Brinkerhoff said in the release. Evoq Therapeutics Inc., a pharmaceutical company spun off from the University of Michigan in 2016, could be set for a big payday. [Extracted from the article]

In 2004 the New Yorker movie critic David Denby wrote a good book about the dot-com mania. Shareholder lawsuits aplenty Last month the U.S. attorney's office in Manhattan charged the former CEO of electric truck company Nikola Corp., which went public via a SPAC, with making false and misleading statements to investors. [Extracted from the article]

In May 2018 influencer Miju Bijou and Pizza Giovannino, her French bulldog, ate dinner at Soho House in the Meatpacking District. Soho House could really use the sort of loyalty Jung brought to the table right now. [Extracted from the article]

As companies release quarterly earnings in the coming weeks, investors will be watching whether the resumption of in-person activity slows the pandemic-fueled growth from public New York technology companies. The company's share price is down about 16% from Jan. 1, despite a 15% gain for firms in the S&P 500. Homebound Americans flocked to the company's internet-connected bikes, and Peloton's share price ended 2020 400% higher than it was at the start of the year. [Extracted from the article]

That is the world of Rally, a SoHo-based startup that allows investors to buy fractional ownership in collectibles, ranging from rare wristwatches to dinosaur bones. "There are so many interesting assets, collectibles, that people want to interact with, but they can't", said Rally CEO George Leimer, a former Disney and eBay executive, who joined the startup in the fall. [Extracted from the article]

The IPO market is uber-hot, and Krispy Kreme says investors are indicating they'll pay up to $24 a share, or a whopping 27 times adjusted earnings before interest, taxes and other expenses. Unprofitable enterprises IPO investors buy shares in unprofitable enterprises all the time, figuring the company will grow fast. [Extracted from the article]

Most of the writing in its IPO, however, focuses on how the firm will boost membership in its central offering, the $179 annual Clear Plus, which gives travelers a quicker trip through airport security. New York's next billion-dollar tech firm could be Clear, the biometric identification company best known for helping travelers skip airport security lines. [Extracted from the article]

Midtown-based startup Sprinklr is poised to be the next New York technology company to make its public debut - less than a year after raising $200 million in private capital - at a $2.7 billion valuation. The firm has more than 1,000 individual clients, but half of its subscription revenue is driven by about 70 customers, who pay $1 million or more each year for the software, according to Sprinklr's SEC filing. REVENUE BOOST: Sprinklr's revenue reached $387 million last year, up 20% from its 2019 total, according to the firm's IPO prospectus filing. [Extracted from the article]

SPACs aren't a disease, though for a while there was nothing more contagious in the financial markets. In theory, SPAC stocks shouldn't trade below $10, because their IPO proceeds are parked in a trust until investors sign off on the acquisition plans. [Extracted from the article]

There were three IPOs in March alone: Oscar Health, food-delivery company Olo and cloud-hosting company DigitalOcean. Rosenblatt formerly was CEO of online advertising company Doubleclick, which Google bought for $3 billion in 2007, making the company New York's most successful firm from the "Silicon Alley" dot-com era. Luxury consumer goods marketplace1stDibs has filed for an initial public offering, placing it on a growing list of New York technology companies to make their public debut this year. [Extracted from the article]