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Chime prices IPO at $27 per share, valuing fintech company at $11.6 billion ahead of Nasdaq debut
- On June 12, 2025, Chime Financial Inc. launched its IPO on the Nasdaq exchange in New York, setting the share price at $27 and achieving an initial market capitalization of approximately $9.8 billion.
- Founded in 2012, the company faced significant challenges early on, including being turned down by 100 investors in 2016 and encountering regulatory obstacles in 2021 that prohibited it from using the term "bank" to describe itself.
- Chime sold 32 million shares in the offering, with $864 million raised overall, including 25.9 million new shares and others from existing shareholders.
- As of March 2025, Chime had 8.6 million active users, reported $1.7 billion revenue in 2024, and posted a net income of $13 million in Q1 2025, marking its first profitable quarter.
- The IPO suggests growing investor confidence despite a lower valuation than prior private estimates, while Chime warns it may not remain profitable amid ongoing growth investments.
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'Way Harder Than I Expected': Chime Was Turned Down By 100 VCs a Decade Ago. It Went Public This Week Valued Around $12 Billion.
About a decade ago, Chime was turned down by 100 VCs, according to the then-CTO. This week, it went public, valued at around $12 billion.
·San Francisco, United States
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Total News Sources28
Leaning Left3Leaning Right2Center9Last UpdatedBias Distribution64% Center
Bias Distribution
- 64% of the sources are Center
64% Center
L 21%
C 64%
14%
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