Deciding to bring your company public is a big step that can take months of planning.
CB Insights, a firm that analyzes tech trends, predicts that 369 companies could have IPOs this year. Individually, the businesses in this IPO pipeline have raised an average of $262 million to this point. Altogether, these companies have raised $86.2 billion in equity financing to date.
Seventy-three percent of the businesses in the IPO pipeline are internet companies. Mobile and telecommunications is second, but that category has 39 companies on the list compared to the top spot's 269.
The tech companies most likely to seek IPOs this year, according to CB Insights, are Utah-based software company Qualtrics, Zuora, a company that makes software for business subscriptions, meal kit delivery service Blue Apron, security software maker Okta, and Pluralsight, a company based in New Mexico that makes online video tutorials for tech skills.
Out of the 369 IPO pipeline businesses, 54 are based in New York, 21 are based in Massachusetts and 205 are in California. Rounding out the top five are Utah, with 11 companies, and Texas with 10.
The report found that that the venture capital firm that most had its finger on the pulse was Andreessen Horowitz. The firm, which has invested in companies such as Airbnb, Buzzfeed and Facebook, had the highest number of IPO pipeline companies in its portfolio that were valued at $1 billion or higher in 2016.