Chime Financial (CHYM) began trading on the Nasdaq on Thur 12 June 25

• Chime priced 32.0 mln share IPO at $27.00 per share, above the $24-26 expected range 

 

 

IPOs to watch for in 2025

1. Stripe

Stripe has been a rumored IPO candidate for a while. The company’s payments processing business for e-commerce has been riding the wave of online shopping, and Stripe has major supporters in the form of venture capital firms Andreesen Horowitz, Kleiner Perkins and Sequoia Capital. The company’s latest valuation is still a far cry from its high-water mark of $95 billion in 2021, and a transaction with Sequoia in 2024 valued the firm at just $70 billion.

2. Databricks

Databricks is a tech unicorn that has the potential to be an IPO valued in the tens of billions, and therefore one of the highest-profile offerings in any year that it goes public. Will that year finally be 2025? The company raised $10 billion in funding in January 2025, valuing the business at $62 billion. That’s up nicely from a 2023 valuation of $43 billion and $31 billion in October 2022. Rivals include Snowflake and Confluent. Databricks has some top investors, including Andreesen Horowitz, BlackRock, Tiger Global and Fidelity.

3. Cerebras Systems

It’s hard to get hotter than semiconductor companies focused on artificial intelligence, and that’s the business of chip company Cerebras, which competes with leaders such as Nvidia. The company filed IPO paperwork in August 2024, though it’s been facing concerns from U.S. regulators about one shareholder-customer that have slowed the process. Cerebras had a valuation of $4 billion as of 2021, a stale valuation, and the company reportedly wants to achieve double that in an IPO. 

4. eToro

The broker eToro offers trading in stocks, options and cryptocurrencies, and it’s now looking to hit the markets itself. The broker tried to go public a few years ago via a SPAC, but had to scrap that deal. The London-based brokerage filed confidential IPO paperwork in February 2025, and the company appears to be targeting a $5 billion valuation, after being valued at $3.5 billion in early 2023. So the broker may hit the market soon, if the market remains amenable. 

5. Chime Financial

Chime offers a financial app that acts like a bank, offering fee-free accounts for customers, and it confidentially filed some IPO paperwork in December, which could tee it up for a 2025 IPO. Chime has been a hit with consumers, and has an estimated 22 million active users as of 2024, according to Cornerstone Advisors. Speculation has been rife for years that Chime would be going public, but it’s still private and looking for the right time to debut. Chime’s high valuation was $25 billion in late 2021, but many tech companies’ valuations plummeted in 2022 and 2023.

Ibotta files for IPO, plans to list on NYSE

Ibotta has filed a registration statement for its proposed initial public offering (IPO) with the Securities and Exchange Commission (SEC). 

The number of shares and the price range for the proposed offering have not yet been determined, the provider of digital promotions and performance marketing solutions said in a Friday (March 22) press release.

Ibotta intends to list its Class A common stock on the New York Stock Exchange (NYSE) under the symbol “IBTA,” according to the release.

The company’s platform enables brands to deliver digital promotions to more than 200 million consumers through the Ibotta Performance Network (IPN), a network of publishers that allows marketers to influence consumers’ shopping habits while paying only when their campaigns directly result in a sale, the press release said. Since 2012, American shoppers have earned $1.8 billion through the IPN.

Ibotta is backed by Walmart and has more than 850 clients, including PepsiCo, Nestle and Coca-Cola, Reuters reported Friday. The company’s revenue grew 52% year-over-year in 2023, and its net income margin grew 12%.

If the pace of IPOs being completed at the time of that report continues, it will exceed the levels seen in 2022 and 2023, Goldman Sachs said.

Potential IPOs for Chime Financial and Encyclopaedia Britannica have been reported in recent days.

On Friday, it was reported that Chime Financial plans to launch its IPO in 2025 after having been considered an IPO candidate for years. 

Encyclopaedia Britannica announced in January that it confidentially submitted a draft registration statement with the SEC relating to a proposed IPO. Bloomberg reported Monday that the company is aiming for a valuation of about $1 billion and may launch its IPO as early as June.