2025's Hottest IPOs: Which Companies Are Set to Go Public?

Tech is buzzing with excitement as more companies prepare to go public in 2025, fueled by a new presidential administration promising to ease regulations, especially in industries like crypto and AI.

Early Signs of Bullishness

The 2024 IPO of ServiceTitan, a SaaS platform for trades, has sparked optimism, particularly in the fintech sector. TechCrunch has compiled a chronological list of companies planning to go public this year, including those that filed as early as 2023.

The confidential filing process allows companies to submit registration documents to regulators without public disclosure, giving them flexibility to delay or withdraw based on market conditions.

Filed in 2025

eToro: The Israeli trading platform has confidentially filed for a $5 billion valuation in January 2025.

Voyager Technologies: This space and defense tech startup is aiming for a valuation between $2 billion and $3 billion.

Karman Holdings: Another player in the space and defense sector, Karman aims to raise up to $100 million in its IPO.

In the Works Since 2024

Chime: This digital bank filed confidentially in December 2024 and is valued at $25 billion.

Klarna: The Swedish BNPL fintech is poised to go public in the first half of 2025, with a valuation of $14.6 billion.

Genesys: This AI cloud startup is eyeing a $2 billion IPO after its confidential filing in October 2024.

Trying Since 2023

Shein: The fast-fashion giant continues to seek an IPO after facing scrutiny over its labor practices.

General Atlantic: This growth equity investor filed confidentially in 2023 but has not provided updates since.

Oyo: The hotel aggregator is reportedly planning to refile in early 2025 after prior attempts fell through.

This list highlights the growing interest in IPOs across various sectors, reflecting a potentially vibrant market in 2025.