Starlink, Coreweave, Fanatics, Shein and Panera headline the 2025 IPO candidate list

The post-election rally in high-growth techs stocks, and cryptocurrencies, has some analysts predicting 2025 will see a bounce back for the IPO market. For its part, Goldman Sachs thinks the tech and crypto sectors, in particular, will see some companies jump forward. The list of potential candidates for an IPO includes some established companies waiting for a frothier market and upstarts looking to fund their growth plans.

Klarna (KLAR): The Swedish buy-now-pay-later company filed confidentially for a U.S. IPO, which could happen as early as Q1 of 2025.

CoreWeave: The cloud computing services company backed by Nvidia (NVDA) is expected to IPO in early 2025. A funding round in May valued the company at $19 billion.

Chime: The consumer fintech firm is moving towards a 2025 IPO.

Fanatics: Fanatics’ valuation has grown significantly, due to strategic acquisitions like Topps and expansion into areas such as sports betting and digital collectibles. The company is believed to be waiting for a favorable market environment before going public.

Databricks: The AI-boosted analytics software firm, is seeking about $2.5 billion of debt from private credit lenders to help it offset tax burdens associated with stock sales from staffers. Analysts think a public offering in 2025 is still in the mix.

Stripe (STRIP): The fintech giant has been a target of IPO speculation for years. The company has recently added more venture capital firms and individual investors, which could set it up for a public offering next year.

Revolut: The London-based digital banking firm is reported to be preparing for an IPO in the U.S.

Discord: The communication platform popular with gamers is valued at around $15 billion.

Shein: The fast-fashion retailer is reported to be seriously considering an IPO in 2025, with a potential valuation of around $66 billion.

Cerebras (CBRS): There are conflicting reports if the AI chip manufacturer is still considering an IPO for 2025.

Stubhub: The online ticketing marketplace company owned by Viagogo confidentially filed for a direct listing IPO in January 2022, targeting a $13 billion valuation. Some analysts think those plans could be rebooted.

SpaceX (SPACE): Analysts see the potential that Elon Musk decides to spin off the Starlink (STRLK) satellite business in an IPO.

Crypto IPO candidates: Circle, Kraken, Anchorage Digital, Chainalysis and crypto exchange Figure are just some of the crypto companies seen testing the waters around a public launch.

Consumer names: Panera Bread, SeatGeek, Del Monte, and Chobani are also firmly in the IPO rumor mix following the recent market developments.