Exciting 2025 IPOs on the Horizon: A Complete Guide to Upcoming Initial Public Offerings
As tech companies gear up for an exciting year of initial public offerings (IPOs), the mood in the industry is optimistic. The new presidential administration is expected to ease regulations and support emerging sectors like cryptocurrency and artificial intelligence (AI), contributing to this positive outlook. Leading the charge, the 2024 IPO of ServiceTitan, a software-as-a-service (SaaS) platform for trades, has set the stage for a flurry of public offerings in the fintech space.
Upcoming IPOs in 2025
TechCrunch has compiled a comprehensive list of companies that have either announced their IPO intentions for this year or have confidentially filed for a 2025 IPO. This includes firms that filed as early as 2023 and are now poised to go public.
Confidential Filings for 2025
- eToro: This Israel-based trading platform confidentially filed in January 2025, aiming for a valuation of $5 billion.
- Voyager Technologies: A Denver-based space and defense tech startup, Voyager filed confidentially in January 2025, with a projected valuation between $2 billion and $3 billion.
- Karman Holdings: Another contender in the space and defense sector, Karman aims to raise up to $100 million and was valued at $3 billion or more.
IPOs in the Pipeline Since 2024
- Chime: This digital bank filed confidentially in December 2024, targeting a public debut in 2025, with a valuation of $25 billion.
- Klarna: The Swedish BNPL fintech is expected to go public in the first half of 2025 after filing in November 2024, with a valuation of $14.6 billion.
- Genesys: The AI cloud startup is also eyeing a 2025 IPO after its October 2024 confidential filing, with a potential raise of $2 billion.
- Clario: This clinical trial software provider is pursuing a $10 billion valuation with plans to go public in 2025.
- Cerebras: Known for competing with Nvidia, this chip startup filed for an IPO in August 2024 and aims to double its current valuation of $4 billion.
- Circle: The stablecoin provider from New York filed confidentially in January 2024 and remains committed to its public offering despite past delays.
- Harry’s: The consumer goods company has confidentially filed to go public, nearing $1 billion in revenue.
- Omada Health: This diabetes startup filed in the summer of 2024, hoping for a favorable IPO market in 2025.
Companies Attempting to Go Public Since 2023
- Shein: The fast-fashion giant made a confidential IPO filing in the U.S. in 2023. Despite challenges, it continues to pursue an IPO in the U.K.
- General Atlantic: This growth equity investor filed to go public in 2023 and manages $96 billion in assets.
- Oyo: After previous attempts, this SoftBank-backed hotel aggregator is reportedly planning to file again in early 2025.
The potential for growth in the tech sector is evident, and as regulations become more favorable, we can expect a surge in initial public offerings that could reshape the industry landscape.