The neobank Chime went public, raising $864 million on a $27 share price. Although not the biggest IPO of the year, Chime has an impressive list of Silicon Valley investors. Iconiq, a well-known VC firm, invested in Chime after closely watching the founders for two years. Chime positions itself as a banking and credit-building resource for the average person, attracting investors with its focused approach. Despite a successful IPO, not all private shares are profitable yet. Iconiq, among other backers, celebrates Chime’s public debut, with investors like Menlo Ventures taking a victory lap.
