IPOs on hold: resilience beats timing
One week after sweeping new tariffs were announced, two of the year's most anticipated listings were paused. Markets will reopen. The question is how growing businesses steer until they do.
By the Xuru Technologies team · 8 April 2025
Key takeaways
- Klarna and StubHub paused IPO plans in early April 2025 after tariff announcements triggered sharp market falls.
- Volatility makes funding harder to raise and customers more cautious.
- Businesses with steady revenue, clear unit economics and loyal customers ride out uncertainty best.
- Lower-cost digital channels and retention become priorities in tight markets.
When public markets wobble, private funding, partnership deals and customer budgets often wobble with them. That is felt far beyond Wall Street.
What happened
Fortune and Payment Expert reported that Klarna and StubHub put their listings on hold after the 2 April tariff announcement sent stocks sharply lower. Other companies also reconsidered timing.
What it means for growing businesses
- Cash runway matters more than valuation. Plan for funding taking longer.
- Retention is cheaper than acquisition. Existing customers are the most reliable revenue in a downturn.
- Efficient channels win. Organic search, email and referrals cost less than paid ads that get pricier as others compete.
- Trust signals matter. Customers choose stable-looking providers when uncertain.
What to do now
| Area | Action |
|---|---|
| Customers | Check in with your top accounts; offer flexibility where it builds loyalty |
| Marketing | Shift budget towards SEO, content and email you own |
| Website | Make security, regulation and support information easy to find |
| Costs | Review software subscriptions and supplier contracts |
Frequently asked questions
Should startups delay fundraising in volatile markets?
It depends on runway. If you can, focus on revenue and efficiency until conditions improve; if you need funds, expect a longer process.
Why do fintechs show trust information so prominently?
Because customers hesitate to trust new companies with money, especially in uncertain times. Regulation, security and support details reassure them.
Which marketing channels hold up best in a downturn?
Owned channels such as your website, search visibility, email and referrals tend to be the most cost-effective.
Look stable. Convert carefully.
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