Only 7 companies with Bay Area ties held IPOs in 2022. Just 5 are actually based here, down 92% from last year

Things have been so bad this year, that the Bay Area's tech sector — usually a major driver of both the local and national IPO market — hasn't seen a single locally based company complete an offering since the end of January that raised at least $50 million. After San Jose's Credo Technology Group Holding Ltd. (Nasdaq:CRDO) went public then, raising $200 million, no other area tech company has held an offering that crossed that mark.