The big news on initial public offerings (IPOs) last week was, of course, the massive $3.4 billion offering by Snap Inc. (NYSE: SNAP), parent of social media app Snapchat. The company priced the offering at $17 a share, above the expected price range, and got a first-day pop of 44% before closing the week up 59%.

Snap’s market cap at the IPO price was just over $24 billion, but ended the week north of $31 billion. Investors apparently believe in the company’s growth story, but now the company will have to prove that it’s worth these lofty valuations.

Through the week ending March 3, IPO ETF manager Renaissance Capital reported that 17 IPOs have priced in the U.S. so far this year, up 240% year over year. Total proceeds raised through last week equaled $8.2 billion. For 2016, Renaissance Capital reported a total of 105 IPOs, down 38% year over year from 170 in 2015. Total 2016 proceeds amounted to $18.8 billion compared with a 2015 total of $30 billion. Renaissance Capital does not include “best efforts” or blank-check companies in its totals, nor does it include IPOs that raise less than $10 million.

Two private-equity backed firms are scheduled to launch IPOs next week: an apparel retailer and an IT reseller.

First up next week is J. Jill Inc., an omnichannel women’s apparel brand. The company plans to offer 11.7 million shares in an expected range of $14 to $16 to raise about $175 million at an implied market cap of $656 million. Underwriters for the offering are BofA/Merrill Lynch, Morgan Stanley, Jefferies, Deutsche Bank, RBC Capital Markets, UBS Investment Bank, Wells Fargo Securities, Cowen & Co., Macquarie Capital, and SunTrust Robinson Humphrey. Shares are expected to price Wednesday and begin trading Thursday on the New York Stock Exchange under the ticker symbol JILL.

Presidio Inc. is an information technology reseller to the North American middle market. The company plans to offer 16.7 million shares in an expected price range of $14 to $16 to raise $250 million at an implied market cap of $1.33 billion. Half of the proceeds from the IPO will be used to repurchase subordinated notes from Apollo Global Management, the private-equity firm that will own about 75% of the company’s shares following the IPO. Underwriters include J.P. Morgan, Citi, Barclays, RBC Capital Markets, Credit Suisse, Goldman Sachs, Wells Fargo Securities, Evercore ISI, Guggenheim Securities, Apollo Global Securities, and Liontree. Shares are scheduled to price on Wednesday and begin trading Thursday on the Nasdaq under the ticker symbol PSDO.

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