What's going on?

Move over, amateurs: UK furniture retailer Made.com announced this week that it�s planning to make its stock market debut on the London Stock Exchange.

What does this mean?

If this pandemic has made us connoisseurs of anything, it�s sitting, sleeping, and curling up in the foetal position as we sing �The sun�ll come out� tomorrow�� through broken sobs. So it makes sense that out of the ashes of this sedentary lifestyle, Made.com should�ve emerged keener than ever to debut on the UK stock market.

The company�s plan is to reinvest the money it makes from the initial public offering (IPO) into the business, grow its annual sales fourfold by the end of 2025, and expand beyond its current Europe-centric focus. The paperwork didn�t mention what valuation the company�s targeting, but reports have put it around $1.4 billion. That�s both three times last year�s sales and ahead of close German rival Westwing, which is only valued at twice its sales.

Why should I care?

The bigger picture: The IPO frenzy is winding down.

Made.com or no Made.com, last quarter�s record number of IPOs has started drying up. There are a few reasons why: inflation-fueled stock market turbulence, investors� souring mood toward high-growth companies, and the disappointments of recently listed firms Bumble and The Honest Company, whose shares have dropped below their IPO prices. And as long as there�s the potential for a lukewarm reception, companies aren�t about to risk selling their shares on the cheap.

Zooming out: Firms are getting mixed messages.

Made.com�s announcement comes just as the UK laid out plans to block certain companies from joining the London Stock Exchange. The government�s worried about dirty money in its financial markets, so it wants to halt any listings that would, say, give a foreign state access to national or commercial interests. But company execs think this an odd move, directly undermining the government�s bid to lure more young, fast-growing companies onto its stock market.