The financial landscape is gearing up for a transformative year as we approach 2024, with many Big US firms getting all set to debut in the primary market with their IPOs.
After a slight dip in IPO activity in 2023, the stage is set for a potential revival. Here are the top IPOs that demand your attention in the coming year:
Reddit, the social discussion platform, is gearing up for a long-overdue IPO, with talks in progress. The company is considering an IPO as early as the first quarter of 2024, with a potential valuation of $15 billion.
Having raised over $1 billion to date, Reddit’s move towards an IPO gained momentum after a significant financing round in 2021.
Stripe
Stripe, a San Francisco-based financial services company, is known for its online payments solutions. Valued at $95 billion in 2021, the company is expected to go public via a direct listing.
Founded in 2009 by the Collison brothers, Stripe’s IPO is highly anticipated. Despite challenges, Stripe continues to grow, reporting a 60% increase in 2021.
Shein
Shein, a Chinese-founded fast-fashion giant, confidentially filed for a US IPO, eyeing a listing as soon as 2024 with a valuation between $60 billion and $90 billion.
Known for its disruptive approach to retail, Shein’s rise hasn’t been without controversies. Facing scrutiny over labour practices and ties to Beijing.
Databricks
Databricks, a San Francisco-based enterprise software company, specialises in data analytics using the Apache Spark engine. Valued at $33 billion, its IPO date is yet to be confirmed, but interest is growing.
With a focus on managing data through machine learning and AI, Databricks has steadily grown since its founding in 2013. The company’s IPO could potentially exceed $40 billion, marking a significant milestone.
Circle
Circle Internet Financial Ltd., a stablecoin issuer, is exploring an IPO in early 2024, with a previous valuation of $9 billion. The move follows the termination of its merger agreement with Concord Acquisition.
Amidst market fluctuations, Circle’s decision to go public signals a dynamic shift in the crypto landscape.