Stripe, the fintech company, has announced its first year of profitability in 2024, with expectations to maintain this status into 2025 and beyond. The company processed $1.4 trillion in payments last year, marking a 38% increase from 2023, and now serves half of the Fortune 100 companies. Stripe's valuation reached $91.5 billion in its latest tender offer. Chime, a digital bank, reported a revenue of $1.7 billion in 2024, a significant 30% rise from the previous year. Despite not being profitable, Chime's net loss decreased to less than $50 million from $200 million in 2023, indicating a strong trajectory towards an initial public offering (IPO). Chime now has 8 million active customers. Revolut, another fintech player, is facing pressure from investors to conduct a secondary share sale at a $60 billion valuation, up from $45 billion six months ago. This move suggests potential preparations for an IPO, as Revolut's profits are projected to reach $1 billion in 2024 from $545 million in 2023. Revolut has over two million customers in Ireland. General Catalyst, a venture capital firm, is in the very early stages of considering an IPO, which could mark it as the first US VC firm to go public. This development reflects broader market optimism about IPOs in 2025.
Why There's Hope For More IPOs In 2025 https://t.co/VE84sWQi29
Sources: General Catalyst is in the very early stages of considering an IPO, which would make it first US VC firm to go public (@danprimack / Axios) https://t.co/D8tXJf5Typ https://t.co/dikP3IhSmc https://t.co/ZOzeer2dpR
Interesting: General Catalyst is in the early stages of considering an IPO. Unfortunately publicly traded venture like firms tend to get valued at a steep discount to the sum of their parts. https://t.co/oxJ9A48MN8