Tech firms Stripe, Databricks and Reddit plan future IPOs as market recovers By Investing.com

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The IPO market is seeing a cautious revival as companies like Stripe, Databricks and Reddit consider public offerings amid a market rally. According to Renaissance Capital, there was a slight increase in IPO activity this year, with $18.8 billion raised through 96 IPOs. This represents an improvement from last year’s $7.7 billion.

Stripe, a major player in the payments processing sector with offices in San Francisco and Dublin, is preparing for a possible IPO in 2024. The fintech giant, currently valued at $50 billion, could seek a direct listing depending on the recovery of the fintech sector.

Databricks, which has more than $1 billion in revenue, is also drawing attention with its expected initial public offering next year. The company’s growth has been supported by early investments from Nvidia (NASDAQ:) and is gaining momentum amid the ongoing market rally.

Reddit, the popular social media platform with over 50 million daily users and a valuation of around $15 billion, plans to go public in 2024. After postponing its initial public offering plans for late 2021 due to unfavorable market conditions, Reddit is now looking to capitalize on the more favorable environment in the social media stock space.

These developments come as the IPO landscape remains challenging, highlighted by less-than-stellar debuts from companies like German shoe maker Birkenstock (NYSE:NYSE:) and the British chipmaker poor Holdings (NASDAQ: NASDAQ:). As these tech companies prepare to launch, investors are watching the sector closely for signs of continued momentum.

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