As you may know, tech IPOs had one of their worst years in 2015, and there are murmurs of a bubble in private tech valuations, esp. at the higher valued companies (unicorn-level). At the same time, M&A was at an all-time high in 2015.
I will beboutique for SA, and have no idea what to make of these two data points. Can any current TMT bankers comment on how TMT M&A might be affected, and how this might impact return offers?