Tech industry is optimistic about the increase in companies going public this year, thanks in part to the new presidential administration’s promise to ease regulations and support industries like crypto and AI. The early signs of bullishness were already evident, especially in the fintech sector, following the successful 2024 IPO of ServiceTitan, a SaaS platform for the trades.
Companies Filing for IPO in 2025
eToro: The Israel-based trading platform filed confidentially in January 2025, aiming for a $5 billion valuation.
Voyager Technologies: The space and defense tech startup confidentially filed in January 2025, with an expected valuation between $2 billion and $3 billion.
Karman Holdings: Another space and defense startup, Karman, confidentially filed in January 2025, looking to raise up to $100 million in an IPO and potentially valued at $3 billion or more.
In the works since 2024
Chime: The digital bank from San Francisco confidentially filed for an IPO in December 2024, looking to go public in 2025 with a last valuation of $25 billion in 2021.
Klarna: The Swedish buy now, pay later fintech filed confidentially in November 2024 for an IPO, expected to happen in the first half of 2025, with a valuation of $14.6 billion in 2024.
Genesys: The Menlo Park-based AI cloud startup announced its confidential filing in October 2024, aiming for a 2025 IPO that could raise up to $2 billion.
Companies Trying since 2023
Shein: The fast-fashion giant confidentially filed for an IPO in the U.S. in 2023 but faced obstacles due to scrutiny over supply chain and labor practices. It then filed in the U.K. in 2024 and is still aiming to IPO in 2025, with a valuation dropping from $100 billion in 2022 to $45 billion in 2024.
General Atlantic
General Atlantic, a growth equity investor based in New York known for its backing of firms like Facebook and Airbnb, confidentially filed to go public in 2023, as reported by Bloomberg. With $103 billion in assets under management, the firm’s IPO plans have not seen any public updates since the initial filing.
Oyo
Oyo, an Indian hotel aggregator backed by SoftBank, confidentially filed in India in March 2023, according to Reuters. After a previous attempt that did not succeed, the company is reportedly gearing up to file again in the first quarter of 2025. In 2024, Oyo reached a valuation of $3.8 billion.
