An important test will come this week and it will show how hard it will be for IPO prices to top valuations for private tech companies valued at or above $1 billion—also known as unicorns.
That was apparent on Monday when Dropbox, valued privately at $10 billion, set its pricing terms at a valuation of between $7 billion and $8 billion.
Next up are Spotify and a provider of cloud-based security software called Zscaler, both of which filed initial papers last month to list their shares with the public.
The three companies are the first unicorns brave the IPO waters this year.
Chinese smartphone maker Xiaomi, last valued at a whopping $46 billion, reportedly is considering a dual listing for later this year, though no public filings to that end have yet been made.