Chime rings the IPO bell
Fintechs to save.
This is a way to describe the sudden explosion of the activity in the public subscription market. Within a few hours on Tuesday, Etoro priced the public subscription above its initial scope, and presented the Chime S-1, which led to the stage of its own inclusion.
Chime, a startup for digital banking services, which was established in 2012, revealed that its revenues for the fiscal year 2024 amounted to 1.67 billion dollars, up from $ 1.28 billion in the previous year. The net loss of the company of $ 25 million fell dramatically from 203 million dollars in 2023, and $ 470 million in 2022.
The company was postponed by the current CEO Chris Brett and Ryan King, and it has been considered for years among the most important super technology that is preparing for public subscription. As if to prove that it is part of a larger direction instead of being one time (and there is no doubt that the claim of complications of juices), the company in the S-1 insisted that “Renin is a technology company, not a bank.”
Whatever the brand you choose, it seems that the FinTec Darings crop, which was carried out by the post -zero era (interest rate policy), is ready to move forward as public companies. Etoro, the Robinhood competitor, which was established in 2007 in Israel, begins trading on the Nasdaq Stock Exchange today under the ETOR symbol. The company priced the subscription on Tuesday at a price of $ 52 per share, giving it an evaluation of $ 4.2 billion.
So, what is happening? Is Fintechs the brave vanguard of the prolonged public subscription lease?
As always, it’s complicated. The public subscription deposit comes from Etoro after the raised Spac attempt, and it remains to see how the company’s general offering will be received (although by the time you read, we may know well). Then Klarna: After submitting an application to the public in March with a lot of noise, the company violently retreated from the public subscription plans, and postponed them until the markets are stabilized.
This is the essence of the case: Going to public places in a volatile market is still eager with definitions. However, we may go towards Fintech.
This moment that has been tested for a long time may happen, the restricted women-tested by Covid, high interest rates, and organizational opposite pioneers-at the end of their moment in the sun.
We see you tomorrow
Allie Garfinkle
x: Agarfinks
Email: Alexandra.garfinkle@fortune.com
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This story was originally shown on Fortune.com
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2025-05-14 11:26:00
