After being stuck in neutral for the past several years, the IPO market is finally picking up speed. Since the start of the year, there have been 202 IPOs in the U.S., a more than 80 percent increase over this time in 2024.
One of the biggest so far was Figma (NYSE: FIG), a design and product development platform, which saw its stock price skyrocket to $115 a share on its first day of trading last Friday. The share price has settled some since, but the stock is still well above its $33 offering price, closing at $79 on Tuesday.
Following Figma’s big Wall Street debut, many other companies could be looking to ride the wave of interest in IPOs, with hope of returns that are just as big. Here are some of the big ones that are lined up to list in the coming months.
This SpaceX rival will likely be the next big IPO to hit Wall Street. It announced plans to go public in July and expects to price shares between $41 and $43 apiece, which is higher than initial expectations of $35 to $39. The lunar lander- and rocket-maker has partnered with NASA, Lockheed Martin, and more. It reported quarterly revenue of $55.9 million at the end of March.
Swedish payments group Klarna confidentially filed for its listing on U.S. markets last November, but delayed those plans earlier this year, after President Trump’s tariff announcement rocked the markets. Figma’s success and the market’s resiliency could get it back on track. Klarna is said to be near profitability and has a valuation of $14.6 billion. A successful IPO on its part could open the door for several other fintech companies to begin trading publicly.
Like Klarna, StubHub pumped the brakes on its IPO plans in April. That was, at least, the third time it had hit pause, following delays last July and September. With a valuation of at least $16.5 billion, it has been working with JPMorgan and Goldman Sachs on its IPO plans for over two years, and investors are eager to get a piece of the company, especially given Live Nation’s 71 percent growth in the past year.
This crypto exchange, which owns the CoinDesk crypto news site, announced this week that it is targeting a valuation as high as $4.23 billion for its IPO. The Peter Thiel-backed company is currently conducting its road show, hoping to ride the wave of optimism surrounding cryptocurrencies following legislative moves by the Trump administration. It’s planning to offer 20.3 million shares for between $28 and $31 apiece. Bullish canceled a previous IPO attempt in 2022, citing regulatory issues.
Texas-based Solera, which provides risk management and asset protection software and services to the automotive industry, initially filed for its IPO last June, but put its plans on pause. This would be the second listing for the company, which went private in 2016 when it was bought out by an investor group.
Earlier this week, this blockchain-based credit company confidentially filed for an IPO, joining a growing list of crypto-affiliated companies looking to begin trading. There’s no information yet on price range or the number of shares being offered. The company develops blockchain technology to assist with home loans and offers crypto-backed loans.
Billionaire twins Tyler and Cameron Winklevoss own this crypto exchange. In June, the company confidentially filed for an IPO, soon after Circle’s successful public debut. The company hasn’t disclosed revenue, but its chief operating officer told The Street in January that it has $9 billion in assets.
Last September, this AI chipmaker filed to go public, but wasn’t in a rush. Earlier this year, though, CEO Andrew Feldman told CNBC his aim was to go public later this year. Cerebras had a net loss of $66.6 million in the first six months of 2024 on $136.4 million in sales, according to its filing. In March of this year, however, Cerebras said a U.S. committee had agreed to allow it to sell shares to Group 42, a Microsoft-backed AI company based in the UAE.
Beyond those that have filed, there are plenty of companies people are expecting to go public in the not-too-distant future. Among the most prominent names are Stripe, Databricks, and Discord.
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