Fintech firm Chime made its highly anticipated Nasdaq debut Thursday, opening at $43 per share significantly above its initial public offering (IPO) price of $27 per share. The online banking startup raised approximately $700 million from the sale of 25.9 million shares in its IPO, with existing investors selling around $165 million for 6.1 million shares.
Chime’s strong market performance is part of a broader trend of successful IPOs in the fintech sector. Companies like USDC stablecoin issuer Circle Internet Group and Israel-based retail trading platform eToro also saw their shares surge in their debut days.
The IPO market has been on a high, with U.S. deals raising over $26.5 billion so far this year, exceeding 2021’s record of $147.6 billion. Chime reported strong revenue growth in 2024, reaching $1.67 billion and averaging $251 per member among its 8.6 million active users.
Source: https://www.investopedia.com/chime-stock-soars-in-trading-debut-11753113