For the past few years, investors have warned of a bubble in privately held tech companies: Valuations simply couldn't be justified based on comparisons with their publicly traded counterparts. Companies such as Uber, the ride-hailing company that has since gone public, were raising venture-capital funding at higher and higher valuations even as bluechip tech powers such as Apple were given valuations that made them seem like old-fashioned industrial companies. But the roles now seem to have reversed. Based on sentiment, share prices and news flow, one can now argue that the place to go shopping for bargains is in the private markets or among companies that have recently gone public.
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For the past few years, investors have warned of a bubble in privately held tech companies: Valuations simply couldn't be justified based on comparisons with their publicly traded counterparts. Companies such as Uber, the ride-hailing company that has since gone public, were raising venture-capital funding at higher and higher valuations even as bluechip tech powers such as Apple were given valuations that made them seem like old-fashioned industrial companies. But the roles now seem to have reversed. Based on sentiment, share prices and news flow, one can now argue that the place to go shopping for bargains is in the private markets or among companies that have recently gone public.