Stripe co-founders Patrick and John Collison told employees Thursday that they are aiming to take the company public or allow employees to sell shares in a private-market transaction within the next 12 months, according to people familiar with the matter.

The IPO market effectively shuttered in 2022, with proceeds shrinking 93% from 2021 to its lightest year in three decades.

Arm Ltd.'s new generation of chips is putting pressure on Intel Corp.

SPAC creators are valuing companies they seek to take public at the lowest levels since the boom began nearly three years ago, according to Dealogic. The average announced SPAC merger value has fallen to about $200 million so far in January, down from more than $2 billion during the sector’s peak.

A business often starts with a relatively modest desire to solve one problem for a specific group of people. Somewhere along the way, it becomes tempting to try to be everything to everyone—especially once it has achieved a supersize tech valuation. Peloton was exhibit A, falling from grace after it tried to grow from what was a solid niche in selling expensive stationary bikes to virtual exercise to anyone with internet access.