Most Wanted: Highly Anticipated IPOs in the IT Sector

The global IPO market is experiencing a resurgence, though not quite reaching the heady heights of 2021. In the United States, as of mid-October 2023, 128 companies have embarked on the journey to go public. Notably, British developer Arm Holdings (NASDAQ: ARM) has made its mark by successfully raising $4.87 billion in its recent IPO.

While significant new U.S. IPOs aren’t anticipated for the remainder of this year, 2024 holds the promise of exciting developments in the technology sector. One standout is Stripe, a company specializing in electronic payment solutions. It is poised to execute one of the most substantial tech IPOs in history. Despite a recent adjustment in valuation, lowering it from $95 billion to $63 billion earlier this year, Stripe remains a compelling prospect for investors. The company demonstrates robust financials, global expansion, and strategic collaborations with industry heavyweights like Uber Technologies (NYSE: UBER), (NASDAQ: AMZN), BMW (BIT: BMW), and Zara, which are also regulars on the list of top stock gainers. Stripe’s IPO is tentatively scheduled for either Q2 or Q3 in 2024.

Most Wanted: Highly Anticipated IPOs in the IT Sector
ARM stock since the day of the IPO (credit: TradingView)

The tech arena also features Discord, a chat platform renowned for its support of IP telephony and video calls. Discord’s intentions to go public were initially unveiled in 2021, coinciding with its surge in popularity during the pandemic and associated lockdowns. While the pandemic’s grip has waned, Discord’s user base continues to grow, with daily users increasing from 21.5 million in 2021 to 26.5 million. Valued at $15 billion, although plans were in motion for a 2023 IPO, recent developments suggest the possibility of a postponement to the following year.

In the realm of big data and artificial intelligence, Databricks garners substantial attention from investors. Following a recent financing round, the company’s valuation reached an impressive $43 billion, with $500 million raised, and NVIDIA (NASDAQ: NVDA) emerged as a strategic investor. In the context of the rapid evolution of AI technologies, Databricks’ solutions appear poised for heightened demand, positioning the company for a successful IPO, potentially in 2024.

On an international note, Gupshup, an Indian IT company specializing in business communication services, is making its presence felt. Its primary markets encompass India and Latin America, with a current valuation of approximately $1.1 billion. Gupshup boasts popular products, a strong foothold in the Indian market, and robust financial performance. Adverse market conditions prompted a delay in its IPO plans. However, Gupshup remains committed to realizing its IPO aspirations.

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