In the first quarter of 2025, venture-backed acquisitions in the U.S. have surged, with 11 startup sales valued at $1 billion or more, totaling a record $54.5 billion. This marks a significant increase from the same period in 2024, which saw only two acquisitions worth $1 billion, totaling $3.2 billion. Companies such as Wiz have contributed to this record-setting performance, raising questions on Wall Street regarding how long firms can maintain high valuations before considering an initial public offering (IPO). The increase in billion-dollar exits reflects a robust climate for venture capital and startup growth.