Silicon Valley needs 2017 to be a blockbuster year of tech IPOs

New York

THE health of Silicon Valley's investing ecosystem in 2017 will depend on something that didn't really happen this year: a flood of technology initial public offerings.

While going public is just one step in a successful company's arc, the scarcity of blockbuster technology deals in 2016 has dragged on everything from investor morale to private funding and companies' business strategies. This year has been the slowest for US IPOs since the recession, with the amount raised by tech companies plunging 60 per cent from a year ago.