Around this time last yr, rumors began to emerge that the dormant IPO market was finally waking up.
Yes, this has been the case with some big names like Arm Holdings AND Instacart testing the waters, but there was more hope for the first half of this yr. But the IPO window so far in 2024, while barely ajar, definitely hasn’t produced the avalanche of long-term private, venture-backed corporations going public that many had expected.
Instead, only a handful of well-known corporations, equivalent to online platforms, have entered the IPO process Reddit and start the chip Aster Laboratory entering the public market.
There will likely be more of those in the second half of the yr, though perhaps not as many as previously thought as a consequence of the shrinking timeframe, elections, etc. That said, here are our greatest guesses as to who is perhaps looking for a stock market opportunity in the next six to 12 months.
AlfaSense: New York-based AlphaSense, an AI-powered market intelligence platform, last month agreed to amass a rival vendor Work for $930 million in money and stock. It also secured recent funding in a $650 million Series F round that values the combined company at $4 billion. The company also expects JP Morgan Growth Equity Partners AND Goldman Sachs among supporters in this round, while Morgan Stanley was a previous investor. It will take some time to integrate an acquisition of this size and get its books in order to file for an IPO, so an IPO isn’t imminent. But these are steps the company could take if a large IPO is a part of its future plans. Plus, with $1.4 billion in funding to this point, it’ll need a big exit to deliver significant returns to its investors.
Arctic Wolf: Eden Prairie, Minnesota-based cybersecurity firm Arctic Wolf is not recent to this list. However, this may increasingly be the right time for the company to look at the public market. In late 2022, Arctic Wolf raised $401 million in convertible bonds run by an existing investor The Capital of Owl Rock. Convertible bonds act as a short-term loan, but these bonds are repaid to the investor at a later point in equity — i.e. after the IPO — normally at a discount. Well, these bonds can be almost 2 years old, so it could be time to convert them into equity. The managed security provider is now 12 years old, and in July 2021, it raised $150 million in a Series F that valued it at $4.3 billion. That might be a problem right away, because it might be hard to realize that goal. However, the security and data management company Heading It entered the stock exchange at the starting of this yr and was in a position to barely beat its 2021 valuation with its offering. Furthermore, while Rubrik — which is about the same age as Arctic Wolf — is not profitable, it had a good IPO performance and remained stable in the market. Perhaps the time is right for one other cyber startup to check the waters.
Cerebras Systems: Yes, that is a little bit of a cheat. It’s been done before reported that AI chip startup Cerebras Systems has confidentially filed for an initial public offering. It’s a good time to be an AI chip maker. Nvidia has change into one of the most dear corporations in the world, if not the most dear. financing is currently gaining popularity in this sectorwith capital investors still pouring money in. At last, Aster Laboratory — which provides data connectivity and memory solutions to some of the world’s largest integrated circuit manufacturers — had a successful public offering although its stock has fallen from its all-time highs. It seems only right that one other chip startup would attempt to fix those favorable tailwinds. We thought it is perhaps Grokbut probable fresh 300 million dollars It will likely not be available on the public market for some time.
Chime: According to BloombergA source near San Francisco-based Chime said the digital bank is looking to be listed on the stock exchange in 2025.. Chime didn’t disclose financials, but it is estimated to have about 23 million customers, which might make it the largest neobank in the U.S. Chime was last valued at $25 billion in 2021 in a funding round led by Sequoia Capital Global Equitiesahead of its planned re-listing in 2022.
Data blocks: Honestly, we are going to proceed to put in Databricks this list until it seems we are right. But in reality, Databricks will pick the exact moment it desires to go public, not a second sooner. As one VC recently told us, “Companies like Databricks can go public anytime they want.” Given the uncertainty of the election and volatile inflation, now probably isn’t the right time. On the other hand, the San Francisco-based company is greater than a decade old, and the VC-backed data storage and management giant is making a daring move into AI. acquired OpenAI competitor MosaicML for $1.3 billion last yr, and even in May announced recent Databricks AI Fund as a part of Databricks ProjectsInvestors love anything AI-related right away, and Databricks could be the biggest recent fish to enter the public AI market.
Revolut: Revolut has posted strong earnings for 2023, a strong indicator that the London-based fintech is planning to list on the stock exchange. Revolut reported strong revenue growth in 2023, up 95% year-on-year. The company recorded revenue of $2.2 billion for 2023 and a profit of $545 million with 12 million recent customers. The current customer base is 45 million in June, gaining 7 million in the first half of this yr. Revolut was last valued at $33 billion in 2021.
Power of Nanotechnology: Founded in 2011 and based in Alameda, California, Sila Nanotechnologies has raised $1.4 billion in equity and grant funding to develop a nanocomposite silicon anode designed to significantly increase the energy density of lithium-ion batteries. The company made headlines a few weeks ago when it secured $375 million in a Series G round led by Sutter Hill Enterprises AND T. Rowe Pricebecause it completes the expansion of its Moses Lake, Washington, manufacturing plant that can supply automaker customers including Mercedes-Benz. With the increasing adoption of electrical vehicles and the ongoing Investor interest in next-generation battery technologyIt would not be surprising if Sila added an IPO to its long list of ambitious goals.
Stripe: We couldn’t leave Stripe off the list of IPO candidates. Stripe’s value was halved to $50 billion in 2023 in a $6.5 billion funding round raised to assist employees with stock tax obligations. Stripe has reached A trillion dollars in payment volume processed in 2023, up 25% from a yr earlier and reported as money flow positive. South San Francisco-based Stripe could be the most anticipated U.S. IPO of any company on Crunchbase Unicorn Board. Its current financial director, Stephan Tomlinsonjoined the API technology company in September 2023. He has taken three corporations public: Tributary, Palo Alto Networks AND Aruba.
SymphonyAI: We followed SymphonyAI for a while here at Crunchbase NewsThat’s why Reuters report it got here as no shock that the company was already in talks with banks about an IPO. The Palo Alto, California-based company, which has each $500 million in revenue and profitability, offers predictive AI across industries to assist forecast things like product demand. It has also begun offering generative AI capabilities—because why not? SymphonyAI was founded by Romesh WadhwaniPh.D., 2017. In 2002, before founding SymphonyAI, Wadhwani founded Symphonic Technology Groupa private equity firm that invests in technology-based software and services corporations. With investors hungry for anything AI-related — likely including predictive AI — the timing might be right for SymphonyAI.
Huge data: Vast Data operates a data platform optimized to run AI and deep learning in modern data centers and clouds. Founded in 2016, the New York-based company has raised $381 million to this point, including $118 million faithfulness– led a Series E round in December 2020, with Goldman Sachs among its other backers. Given the continued enthusiasm among investors for the best-performing AI corporations, it looks like Vast could make a compelling case for its capabilities. This month, the company announced Certification as a high-performance storage solution for NvidiaCompany Cloud Partners – helping to attach your organization’s brand to the highest-priced stocks in the era of AI.