Chime IPO to test public market appetite for fintech as companies exit

2025-06-11 19:35:01

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There is a small photo that occurs in Fintech.

Later Public subscription slowdown Cauling the high rates of evaluation and assessment of the evaluation, some of the emerging players in the online stock trade, banking services, lending, and encryption services, strike the public market, or at least prepare for the first time.

The following test of Hamas Wall Street is expected to come on Thursday, when the harmony is scheduled to start trading on the Nasdak Stock Exchange. Provided online banking service provider a The price range From $ 24 to $ 26 per share, which is equivalent to the maximum market is about 9.1 billion dollars in the middle of the range, although this number will be higher on a completely diluted basis. The public subscription is scheduled to be priced later on Wednesday.

This is a big step in terms of investors such as Sequoia Capital Company in Chime’s The last tour of the donation In 2021, when private technology markets were raging. The evaluation was reported at that time 25 billion dollarsThe subscriber subscription bulletin from Chime says the share price was $ 69. It is a dynamic that is operated through the industry, where executive managers and investors are calculated new reality.

David Golden, an investor and partner in a fuse in Thornts, in 2021, said in 2021, the capital was so abundant that “stocks were essentially free”, which makes it possible to sell stocks “for any price in any circumstances.”

“I have seen a market evaluation reset,” said Golden, who previously led. Jpmorgan Chase’s Technical investment banking practice. Now it seems that the window is open, and “they said mainly,” Look, we do not really need money, but we think the time has come. “

A spokesman for the ringing refused to comment.

Harmony files to enter the Nasdaq Stock Exchange under the leadership of Shem

There are reasons for optimism.

Late month, trading application etoro He appeared for the first time in the market and 29 % jump On its first day, although the arrow has not done much since then. In the same week, Chefir Novurtars Galaxy Digital Finally, it appeared for the first time in the United States, the list of TSX.

Then the encryption company came circleWhich is wonderful existing Help establish what is similar now to reopening the Fintech public subscription market. Circle is trading more than $ 118 for the 26 billion market value, after pricing it at $ 31.

Others on the horizon. Clarena, a purchase provider now, paid loans later, presented her bulletin in March but then delay Then a month later after President Donald Trump targeted in the cavity markets. The company did not make an update on its timing, but in May I mentioned Nearly $ 100 million of quarterly losses.

Gemini, the encryption company founded by Twinkvoss Twins, He said last week It was provided quickly to get the public subscription. Ascending, exchanged encryption before Peter ThilI was also provided with a secret of public subscription, according to a report Tuesday from the Times Financial.

Attention to companies such as Chime requires that the market may change mainly from a few years ago. For Sequoia, SoftBank and Tiger Global, who all wrote checks in the Chime 2021 financing round, this means taking a haircut on this investment and hope that Wall Street helps them recover.

Stripe, the most valuable for us, has almost returned to its climax. After collecting $ 95 billion in 2021, the company I cut off This number is about half to $ 50 billion in 2023. In early this year, it is Climb To 91.5 dollars in bid for employees and shareholders. But Stripe did not show any urgency to strike the public market, as he is able to make secondary offers regularly.

“The acquisition currency”

For harmony, revenues in the last quarter increased by 32 % from the previous year to $ 518.7 million. The net income narrowed to $ 12.9 million from 15.9 million dollars a year ago.

“They believe that there is sufficient support in the public markets to raise the meaning of meaning and gain a currency of exit and acquire other companies,” said Golden.

Even with a decrease in evaluation, the public subscription of Chime will continue to create large payment days for former supporters such as DST Global and Croslink Capital, the largest external investor in the company.

Silicon Valley investors are desperate for returns after extending drought. While the project companies ’exits in the first quarter amounted to the highest quarterly value since the fourth quarter of 2021, approximately 40 % came from the public subscription, according to what he said. National Investment Capital Association and the Book of Stadium. This was the public subscription CoruvProvide artificial intelligence infrastructure.

“Shepherds and Advisors are very realistic” about market conditions and “realizing that the window is open.”

““I don’t think they know how high the window from the ground is,” Gilbert said.“

He said that Chime is a work that has spent a lot of money to attract customers, a major challenge for the smaller companies that lack the recognition of the Global brand. According to the release bulletin, Chime Dallas Maverx in the American Professional League paid about 33 million dollars over three years to wear its logo as a correction on the shirts.

Harmony must now prove that it can benefit from everything that is spent on marketing and retaining customers while competing with job occupants. squareand PayPal and Sufi.

Although Chime is not a bank, most of its services sit at the core of consumers banking services. Initially generates revenues through fees based on exchange on discount transactions and credit cards.

“It is very simplified,” said Dan Dolph, an analyst at Mezoho. “I was really surprised by the lack of timing of this commercial model.”

The extent of receiving the market that receives this model and the harmony story is a major impact on the rest of the Fintech space.

“I think they will look at harmony as a potential Canary in the coal mine,” said Golden. “If things go well – and you will know that during the next two or three months – I think you will see more acceptance” from other companies in the pipeline.