Chime's Remarkable Rise: From Rejection to $14.5B IPO Success
TL;DR Summary
Chime, a neobank founded in 2012, nearly failed in 2016 after being rejected by over 100 investors, but it persisted and went public in 2023 with a valuation of $14.5 billion, driven by strong financial growth and a dedicated early investor who believed in its mission to serve the working class with free banking services.
- Chime almost died in 2016, turned down by 100 VCs. Today it IPO’d at $14.5B. TechCrunch
- US IPO market revival takes root as Chime soars in debut Yahoo Finance
- Chime opens at $43 in Nasdaq debut after pricing IPO above expected range CNBC
- Chime built a business on free banking, and the stock is soaring in its debut MarketWatch
- Chime Soars 59% On Debut Amid Light Gains By S&P 500, Dow Jones, Nasdaq; Microsoft, Oracle Break Out (Live) Investor's Business Daily
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