The Hottest IPOs of 2023
The first VC-backed IPO of the year was seen when Affirm, the BNPL upstart, went public on January 13th, 2021, at an $11.9 billion valuation. The company’s stock price jumped 100% on its first day of trading. The stock price has moved up and down since, and as of December 23rd, it closed at $101.16.,106% above its share price when it IPO’ed ($49). It seems that investors are rewarding Affirm for its strong momentum and potential to become a new payments player.
The crypto trading platform, IPO’ed on April 14th, 2021, at a valuation of $86 billion. By early 2021, Coinbase had managed to become the largest cryptocurrency exchange in the United States by trading volume. Following its listing, Coinbase faced increased regulatory scrutiny and the high-volatile crypto markets definitely weighed down on it. But as of December 23rd, the Coinbase stock price was 7.26% higher than its initial IPO price ($250).
Marqeta, a popular payment processing company, made an appearance on the public stage with over 45 million shares at $27 apiece on June 8th, 2021, above its targeted $20-$24. Marqueta currently trades at $17.44 (as of 23rd Dec), 35% lower than its debut price. Early indications from the performance of Marqeta show that investors are valuing the company relatively in line with traditional high-growth software companies.
Who will IPO in 2022?
We saw some legendary startups on the main stage this year, and we’re sure 2022 will bring some exciting debuts as well. From whispers on street and investor speculations, here are the Fintech companies anticipated to go public in 2022:
Klarna: Sweden-based buy now, pay later (BNPL) startup
Revolut: London-based digital bank Revolut, is highly likely to go public in 2022—probably in a London listing
Plaid: San Francisco-based Plaid, a service that connects your bank account to online services
Chime: San Francisco-based digital bank has all eyes on it as a likely 2022 IPO candidate