Chime's IPO Soars, Marking Revival of US Fintech Market
TL;DR Summary
Chime Financial's IPO priced above expectations at $27 per share, leading to a 48% increase in its stock price on debut, raising $864 million and valuing the company at $11.4 billion. Despite strong revenue growth and high margins, Chime remains unprofitable, with significant losses reported in recent years. The company operates a digital banking platform targeting under-served consumers, leveraging banking partners for FDIC insurance.
- Chime Prices IPO At $27, Above Expected Range; Trading Still On Hold Investor's Business Daily
- Chime opens at $43 in Nasdaq debut after pricing IPO above expected range CNBC
- US IPO market revival takes root as Chime soars in debut Yahoo Finance
- Chime built a business on free banking, and the stock is soaring in its debut MarketWatch
- Chime almost died in 2016, turned down by 100 VCs. Today it IPO’d at $14.5B. TechCrunch
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