What tech IPOs are happening in 2025?

by | Feb 3, 2025 | E-commerce News

One of my 2025 Predictions was that this year will be the highest number of IPOs since 2021. Every company that has wanted to IPO in the past few years has just been biding their time for the market to turn and rates to drop (which they have), and last year, those same companies began putting out feelers for this year. I predict it's going to be a public money cash grab.

TechCrunch put together a list of tech-related IPOs reported to be in the works for 2025:

  • eToro – Israeli trading platform filed in January 2025, seeking a $5B valuation.
  • Voyager Technologies – Denver-based space and defense tech startup filed in January 2025, seeking up to a $3B valuation.
  • Karman Holdings – another space and defense startup, filed to go public in January 2025, seeking to raise up to $100M at a $3B valuation
  • Chime – digital bank that filed to IPO in December 2024 and looking to go public in 2025, last valued at $25B in 2021.
  • Klarna – Swedish BNPL fintech filed in November 2024 for an IPO that’s been a long time in the making, planning to go public in the first half of 2025 at a $14.6B valuation.
  • Genesys – California-based AI cloud startup filed in October 2024, aiming to raise $2B in 2025, most recently valued at $21B in 2021
  • Clario – Philadelphia-based clinical trial software provider filed in June 2024, seeking a $10B valuation.
  • Cerebras – chip startup that aims to compete with Nvidia filed to IPO in August 2024, aiming to double its current $4B valuation.
  • Circle – New York-based stablecoin provider filed in January 2024, says it is “very committed” to going public this year despite prior delays. Its current valuation is $5B based on secondary market stock trading.
  • Harry’s – New York-based consumer company that makes razors and other personal care items for men, filed in March 2024, last valued at $1.7B in 2021.
  • Omada Health – San Francisco-based diabetes startup filed in summer 2024, hoping for a warmer IPO market in 2025, last valued at $1B in 2022.
  • Shein – Chinese fast-fashion giant filed in the US in 2023, but its hopes were dashed over congressional scrutiny of its supply chain and labor practices, so later filed in the UK in 2024, valued at $45B in 2024 down from a $100B valuation in 2022.
  • General Atlantic – San Francisco-based growth equity investor, which has backed firms like Facebook and Airbnb, filed in 2023 but hasn't made any public updates since then, has $96B in assets under management.
  • Oyo – SoftBank-backed Indian hotel aggregator filed in India in March 2023 after a prior attempt fell through, valued at $3.8B in 2024.

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