New updates have been reported about Chime (PC:CHIMQ)
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Chime is gearing up for its much-anticipated initial public offering (IPO), expected to be a significant event in 2025. The company has set a share price range of $24 to $26, aiming for a market capitalization of up to $11.2 billion. At the midpoint of this range, Chime plans to raise $800 million, with contributions from investors including Cathay Innovation. Despite a slower IPO market, Chime’s offering is notable due to its impressive financial performance, reporting $1.3 billion in revenue for 2023 and $1.7 billion in 2024, with over $518 million already recorded in the first quarter of 2025. The company has also significantly reduced its losses from $203 million in 2023 to $25 million in 2024, highlighting its strong financial trajectory.
While Chime’s last private valuation was estimated at $25 billion, the current IPO target is lower. However, market interest could drive the final IPO price above the initial range, especially if retail investors show strong demand. Notably, major shareholders such as DST Global, Crosslink Capital, and Access Industries are retaining their stakes, signaling confidence in Chime’s future prospects. The IPO is slated for the week of June 9, and the market will be closely watching to see if Chime’s valuation increases post-IPO. This strategic move positions Chime for further growth and expansion in the financial technology sector, potentially offering substantial returns for its investors.