- Sector: Technology
- Industry: Software - Infrastructure
- Full Time Employees: 854
- Incorporated in 2010
- founded by Jason M. Gardner in 2010
- Headquartered in Oakland, California
- https://www.marqeta.com
IPO: June 9, 2021
Ticker: MQ
Friday, February 28, 2025
Marqeta (MQ) : 3-year performance
IPOs to watch for in 2025
1. Stripe
Stripe has been a rumored IPO candidate for a while. The company’s payments processing business for e-commerce has been riding the wave of online shopping, and Stripe has major supporters in the form of venture capital firms Andreesen Horowitz, Kleiner Perkins and Sequoia Capital. The company’s latest valuation is still a far cry from its high-water mark of $95 billion in 2021, and a transaction with Sequoia in 2024 valued the firm at just $70 billion.
2. Databricks
Databricks is a tech unicorn that has the potential to be an IPO valued in the tens of billions, and therefore one of the highest-profile offerings in any year that it goes public. Will that year finally be 2025? The company raised $10 billion in funding in January 2025, valuing the business at $62 billion. That’s up nicely from a 2023 valuation of $43 billion and $31 billion in October 2022. Rivals include Snowflake and Confluent. Databricks has some top investors, including Andreesen Horowitz, BlackRock, Tiger Global and Fidelity.
It’s hard to get hotter than semiconductor companies focused on artificial intelligence, and that’s the business of chip company Cerebras, which competes with leaders such as Nvidia. The company filed IPO paperwork in August 2024, though it’s been facing concerns from U.S. regulators about one shareholder-customer that have slowed the process. Cerebras had a valuation of $4 billion as of 2021, a stale valuation, and the company reportedly wants to achieve double that in an IPO.
4. eToro
The broker eToro offers trading in stocks, options and cryptocurrencies, and it’s now looking to hit the markets itself. The broker tried to go public a few years ago via a SPAC, but had to scrap that deal. The London-based brokerage filed confidential IPO paperwork in February 2025, and the company appears to be targeting a $5 billion valuation, after being valued at $3.5 billion in early 2023. So the broker may hit the market soon, if the market remains amenable.
Chime offers a financial app that acts like a bank, offering fee-free accounts for customers, and it confidentially filed some IPO paperwork in December, which could tee it up for a 2025 IPO. Chime has been a hit with consumers, and has an estimated 22 million active users as of 2024, according to Cornerstone Advisors. Speculation has been rife for years that Chime would be going public, but it’s still private and looking for the right time to debut. Chime’s high valuation was $25 billion in late 2021, but many tech companies’ valuations plummeted in 2022 and 2023.
Thursday, February 27, 2025
ADT Inc. (ADT) : 7-year performance
ADT currently serves more than 7.2 million residential and business customers, making it the largest monitoring and service company in the United States and Canada, supported by approximately 18,000 employees and visiting approximately 10,000 homes and businesses daily. ADT handles an average of 15 million alarms annually and provides support to its clients from over 200 sales and service locations and through its 12 monitoring centers listed by Underwriters Laboratories.
- In 2012, ADT became an independent public company.
- In 2016, Apollo Global Management acquired ADT for nearly $7 billion.
- January 19, 2018: Less than two years after being acquired and merged with Protection 1 by Apollo Global Management in a deal that took the company private, ADT is a publicly-traded company once again following the launch of its initial public offering on the New York Stock Exchange.
January 19, 2018 IPO: Although ADT had been looking to raise as much as $2.1 billion by offering 111.1 million shares ranging from $17 to $19 each, the company only offered 105 million shares at a price of $14 each, raising only $1.47 billion in the offering. As of 2023, Apollo still has a majority share in ADT.
ADT, Inc. Chief Executive Officer Timothy J. Whall, joined by members of ADT's senior executive team and board of directors, rings the NYSE Opening Bell.
Tuesday, February 25, 2025
Atour Lifestyle (ATAT) : 2-year performance
The company benefits from a young, loyal and growing customer base. With a business model structured to create a closed loop from lodging to retail, the company provides a personalized immersive shopping destination that guides guests from discovery to purchase.
- Sector: Consumer Cyclical
- Industry: Lodging
- Full Time Employees: 4,248
- incorporated in 2012
- Headquartered in Shanghai, China
- https://ir.yaduo.com/
IPO: Fri 11 Nov 22
Hesai Group (HSAI) : 2-year performance
- Sector: Consumer Cyclical
- Industry: Auto Parts
- Founded in 2014
- Headquartered in Shanghai, China
- https://www.hesaitech.com
IPO: February 9, 2023; offered 10.0 million American Depositary Shares (“ADSs”), at US$19.00 per ADS, for a total offering size of US$190.0 million
Ticker: HSAI
Sunday, February 23, 2025
IPOs this week : Feb 24 - 28, 25 (wk 9)
RedCloud – London, 4.4 million shares, priced at $4-$6, managed by Roth Cap. Clear Street. Proposed Nasdaq symbol RCT. Business: Operates a B2B platform for sellers of consumer goods in emerging markets.
Apimeds Pharmaceuticals – Hopewell, N.J., 4.5 million shares, priced at $4-$5, managed by D. Boral Capital. Proposed NYSE American symbol APUS. Business: Clinical stage biotech developing bee venom-based treatment for inflammation.
HW Electro – Tokyo, 4 million shares, priced at $4, managed by AC Sunshine Sec. Univest Sec.. Proposed NYSE American symbol HWEP. Business: Japanese retailer of electric light commercial vehicles.
NusaTrip – Jakarta, Indonesia, 2.7 million shares, priced at $4-$5, managed by Cathay Securities. Proposed Nasdaq symbol NUTR. Business: Indonesia-based online travel agent spun out of Society Pass.
Basel Medical – Singapore, 2.2 million shares, priced at $4-$5, managed by Cathay Securities. Proposed Nasdaq symbol BMGL. Business: Operates two medical clinics in Singapore.
FatPipe – Salt Lake City, .7 million shares, priced at $5.75-$7.75, managed by D. Boral Capital. Proposed Nasdaq symbol FATN. Business: Provides network software solutions for enterprises.
Tuesday, February 18, 2025
GeneDx (WGS) reported earnings on Tue 18 Feb 25 (b/o)
** charts after earnings **
Strong
Beat, Guidance: This provider of exome and genome tests is a play on
the shift toward personalized medicine and earlier intervention.
During
the fourth quarter, GeneDx earned an adjusted 77 cents per share,
obliterating forecasts for 16 cents, according to FactSet. Earnings
flipped from a year-earlier loss of 49 cents. Sales grew almost 65% to
$95.6 million, well ahead of calls for $82.2 million.
GeneDx
also guided to $350 million to $360 million in full-year sales. The low
end of the outlook easily beat analysts' forecast for $340.4 million.
GeneDx uses AI to provide genomics-related diagnostic testing.
GeneDx
provides whole genome and exome sequencing to help identify rare
diseases, primarily in children. The genome includes all the DNA in the
body, while reading the exome involves looking at only the
protein-coding genes.
When performed early,
genetic testing can lead to answers that help avoid what Chief Executive
Katherine Stueland calls a "diagnostic odyssey." The company only tests
for diseases where there is a solution — a clinical study, a dietary
change or a treatment.
Pulmatrix, Inc. (PULM) : 10-year performance
- Sector: Healthcare
- Industry: Biotechnology
- Full Time Employees: 22
- Founded by David Alan Edwards, Mark J. Gabrielson, Alexander M. Klibanov, and Robert S. Langer, Jr. in April 2003
- Headquartered in Framingham, Massachusetts
- http://www.pulmatrix.com
IPO: March 7, 2014
Nov 13, 2024: Pulmatrix, Inc. (NASDAQ:PULM) announced a definitive merger agreement with Cullgen Inc.
Skyline Builders Group (SKBL) began trading on the Nasdaq on Thur 23 Jan 25
Skyline Builders Group Holding Limited (NASDAQ: SKBL) is a civil engineering services provider in Hong Kong
- Sector: Industrials
- Industry: Engineering & Construction
- Full Time Employees: 236
- Incorporated in 2024
- Based in Kowloon Bay, Hong Kong
- https://kinchiueng.com
- Ticker: SKBL
Sunday, February 16, 2025
IPOs this week : Feb 17 - 21 25 (wk 8)
RedCloud – London, 11 million shares, priced at $4-$6, managed by Roth Cap. Clear Street. Proposed Nasdaq symbol RCT. Business: Operates a B2B platform for sellers of consumer goods in emerging markets.
Micropolis Holding – Dubai, United Arab Emirates, 5 million shares, priced at $4-$5, managed by Network 1. Proposed NYSE symbol MCRP. Business: Dubai-based developer of autonomous mobile robots and related software.
Apimeds Pharmaceuticals – Hopewell, N.J., 4.5 million shares, priced at $4-$5, managed by D. Boral Capital. Proposed NYSE American symbol APUS. Business: Clinical stage biotech developing bee venom-based treatment for inflammation.
HW Electro – Tokyo, 4 million shares, priced at $4, managed by AC Sunshine Sec. Univest Sec.. Proposed NYSE American symbol HWEP. Business: Japanese retailer of electric light commercial vehicles.
NusaTrip – Jakarta, Indonesia, 2.7 million shares, priced at $4-$5, managed by Cathay Securities. Proposed Nasdaq symbol NUTR. Business: Indonesia-based online travel agent spun out of Society Pass.
FatPipe – Salt Lake City, .7 million shares, priced at $5.75-$7.75, managed by D. Boral Capital. Proposed Nasdaq symbol FATN. Business: Provides network software solutions for enterprises.
Saturday, February 15, 2025
GDS considers IPO for international DayOne unit
Citing people familiar with the situation, Bloomberg reports GDS is considering a US initial public offering of its GDS International business (recently renamed DayOne) to raise about $500 million.GDS is in talks with banks about working on the IPO and could start the process to go public this year.
Established in 2022, what was then GDS International was founded to hold GDS Holding’s data center assets and operations outside of mainland China. The unit officially rebranded to DayOne last month.
DayOne’s portfolio currently comprises approximately 480MW of data center capacity in service and under construction and an additional 590MW held for future development across sites in Hong Kong, Singapore, Malaysia (Johor), Indonesia (Batam), and Japan (Tokyo).
After raising almost $2 billion in funding last year, the company is aiming to expand its footprint to 1GW. Investors in DayOne include SoftBank Vision Fund, Kenneth Griffin – CEO of Citadel, Coatue Management, and Baupost Group.
GDS Holdings was founded in 2006 and operates dozens of data centers across Greater China, including in Suzhou Kunshan, Chengdu, Shanghai, Shenzhen, and Beijing.
GDS Holdings has been trading in New York since 2016 when it raised about $200 million in an initial public offering. It was listed in Hong Kong in 2020, with GDS raising around HK$14.9 billion ($1.9 billion). STT GDC and Hillhouse are existing investors in GDS.
Reports that GDS was seeking $1 billion in investment for its international data center unit surfaced in August 2024. In March of last year, the company raised $587 million for the unit. This was announced just days after it confirmed that it was looking to sell a stake in the unit.
Friday, February 14, 2025
INLIF Ltd. (INLF) began trading on the Nasdaq on Thur 2 Jan 25
- Sector: Industrials
- Industry: Specialty Industrial Machinery
- Full Time Employees: 124
- Fouded in January 2023
- Headquartered in Quanzhou, China
- https://www.yiwate88.com/
INLIF's IPO involved offering 2,000,000 ordinary shares at a price of $4.00 each, raising $8 million in gross proceeds before underwriting discounts and expenses.
Financial Performance: In 2023, INLIF reported revenue of $12.61 million, marking an increase of 89.57% from the previous year. The net income for the same period was $1.35 million, which represents a significant rise of 151.60%.
Business Focus: The company specializes in producing manipulator arms for injection molding machines under the brand name iNLIF. These products include:
- Transverse single and double-axis manipulator arms
- Transverse and longitudinal multi-axis manipulator arms
- Large bullhead multi-axis manipulator arms
GDS Holdings (GDS) : 8-year performance
- Sector: Technology
- Industry: Information Technology Services
- Full Time Employees: 2,345
- Founded in 2001
- Headquartered in Shanghai, China.
- https://www.gds-services.com
Here are the key services and operations of GDS Holdings:
- Colocation Services: They provide critical facilities space, customer-available power, racks, and cooling for businesses to house their servers and IT equipment.
- Managed Hosting Services: This includes services like business continuity, disaster recovery, network management, data storage, system security, operating system, database, and server middleware services.
- Managed Cloud Services: GDS offers services that help manage cloud environments, allowing direct private connections to major public cloud platforms.
- Consulting Services: They offer advice and expertise in IT infrastructure management.
Their data centers are described as carrier and cloud-neutral, meaning customers can connect to major telecommunications networks and access various public cloud services hosted within their facilities. GDS Holdings serves a diverse clientele including cloud service providers, large Internet companies, financial institutions, telecommunications and IT service providers, and both domestic and multinational corporations.
Beta Bionics (BBNX) began trading on the Nasdaq on Thur 30 Jan 25
- Sector: Healthcare
- Industry: Medical Devices
- Full Time Employees: 279
- Founded by Edward R. Damiano in 2015
- Headquartered in Irvine, California
- https://www.betabionics.com
Completed its initial public offering (IPO) on January 30, 2025.
The IPO raised $234.6 million
Ticker: BBNX
IPO details
- The IPO was for 13,800,000 shares of common stock at $17 per share
- The underwriters had the option to purchase an additional 1,800,000 shares
- Beta Bionics also sold 1,000,000 shares in a private placement to an existing investor at $17 per share
- BofA Securities, Piper Sandler, and Leerink Partners were the lead bookrunners for the offering
Zevra Therapeutics (ZVRA) : 10-year performance
- Sector: Healthcare
- Industry: Biotechnology
- Full Time Employees: 65
- headquartered in Celebration, Florida
- https://zevra.com
Metalpha Technology (MATH) : 7-year performance
- Sector: Financial Services
- Industry: Capital Markets
- digital asset wealth management
- Full Time Employees: 19
- Founded: 2015
- Headquartered: Wan Chai, Hong Kong
- Website: metalpha.net
- Employees 19
IPO on October 20, 2017; opened at $7.39
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