Here are all the IPOs scheduled for 2025.
These companies have confidentially expressed their intention to go public in recent years.
The climate in the tech sector is optimistic regarding the possibility of more companies going public this year. This favorable environment is attributed, in part, to the new presidential administration, which has promised to ease regulations and support emerging industries such as cryptocurrency and artificial intelligence. Signs of confidence were already evident in the market, especially in the fintech sector, driven by the successful public debut of ServiceTitan, a SaaS platform aimed at trades.
A chronological list has been compiled of companies that have announced their intention to conduct an initial public offering (IPO) this year, as well as those that have filed confidentially for an IPO in 2025. It also includes companies that filed in 2023 and may finally go public this year. This confidential filing process allows companies to submit their registration documents to authorities without making them public. However, these companies may choose to delay or withdraw their applications depending on market conditions.
For the year 2025, the following confidential filings have been noted:
- eToro: The Israel-based trading platform submitted its application in January 2025, seeking a valuation of $5 billion.
- Voyager Technologies: This space and defense tech startup also filed its application in January 2025, with an estimated valuation between $2 and $3 billion.
- Karman Holdings: Another venture in the space and defense field, Karman, aims to raise up to $100 million in its IPO and could be valued at more than $3 billion.
Several companies that have been working towards going public since 2024 include:
- Chime: This digital bank based in San Francisco submitted its confidential filing in December 2024 and plans to go public in 2025.
- Klarna: The Swedish fintech offering "buy now, pay later" solutions also submitted its confidential filing in November 2024.
- Genesys: This AI startup made its confidential filing in October 2024, aiming to raise up to $2 billion.
Some companies have attempted to go public since 2023, such as:
- Shein: The fast fashion giant submitted its application in the U.S. in 2023 but faced challenges due to Congressional scrutiny of its supply chain and labor practices.
- General Atlantic: This growth investor also made a confidential filing in 2023, but there have been no public updates on its plans since then.
- Oyo: The India-based hotel aggregation platform backed by SoftBank attempted to file in March 2023 but failed. A new attempt is expected in the first quarter of 2025.
Overall optimism is bolstered by the favorable regulatory environment and the growing interest in IPOs within the tech sector.
