Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Equity Capital Markets

Stripe, Inc. provides payment software services and solutions. The Company designs and produces software to process online credit and debit card payments. Stripe serves customers worldwide.

<ul>
<li>In this insight, we provide a list of 70 prominent companies in the USA, Europe, and the Middle East that could complete their IPOs in 2025.</li>
<li>This is a comprehensive, REFERENCE GUIDE to help clients so that they could get a broad view of the major IPOs that could get completed in these regions in 2025.</li>
<li>Some of the most prominent potential IPOs in these regions next year include Starlink, SpaceX, Stripe, Open AI, Klarna, Five Holdings, Monzo, and Ethiad Airways.</li>
</ul>


In this insight, we provide a list of 70 prominent companies in the USA, Europe, and the Middle East that could complete their IPOs in 2025.
This is a comprehensive, REFERENCE GUIDE to help clients so that they could get a broad view of the major IPOs that could get completed in these regions in 2025.
Some of the most prominent potential IPOs in these regions next year include Starlink, SpaceX, Stripe, Open AI, Klarna, Five Holdings, Monzo, and Ethiad Airways.


2025 IPOs Pipeline (USA, Europe, and the Middle East)

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

ServiceTitan, Inc. provides software solutions. The Company develops a trade platform that offer collection of field service activities required to install, maintain, and service the infrastructure and systems of residences and commercial buildings tradespeople like local plumber, roofer, landscaper, HVAC technician, and others who are employed in the trades.

<ul>
<li>ServiceTitan, a provider of field service management software for home service businesses, priced its IPO at $71.00/share and raised ~$625M.  </li>
<li>ServiceTitan IPO has seen robust demand among institutional investors. The company boosted its initial price range to $65.00 to $67.00 per share.</li>
<li>The offering was priced above the price range, valuing ServiceTitan at ~$6.5B. The stock jumped ~42% on first day as a public company and closed at $101.00 on Thursday.</li>
</ul>


ServiceTitan, a provider of field service management software for home service businesses, priced its IPO at $71.00/share and raised ~$625M.  
ServiceTitan IPO has seen robust demand among institutional investors. The company boosted its initial price range to $65.00 to $67.00 per share.
The offering was priced above the price range, valuing ServiceTitan at ~$6.5B. The stock jumped ~42% on first day as a public company and closed at $101.00 on Thursday.


ServiceTitan IPO: Pricing and First Trading-Day, The Stock Jumped ~42% As A Public Company

<ul>
<li>ServiceTitan, a founder-led market leader for trades businesses in the United States and Canada, is expected to IPO this week.</li>
<li>The company’s amended S-1 puts the initial price range per share at $52.00 to $57.00, implying a market cap of roughly $5B at the midpoint.  </li>
<li>I have a positive view of upcoming ServiceTitan IPO and expect an attractive first trading-day return. The stock will begin trading on the Nasdaq on Thursday.  </li>
</ul>


ServiceTitan, a founder-led market leader for trades businesses in the United States and Canada, is expected to IPO this week.
The company’s amended S-1 puts the initial price range per share at $52.00 to $57.00, implying a market cap of roughly $5B at the midpoint.  
I have a positive view of upcoming ServiceTitan IPO and expect an attractive first trading-day return. The stock will begin trading on the Nasdaq on Thursday.  


ServiceTitan Valuation Analysis: Attractive First-Day Return, Initial Price Range: $52.00-$57.00

<ul>
<li>ServiceTitan, a VC-backed cloud-based software company for the home and commercial service industries, files to go public and may raise up to $500M.</li>
<li>The company serves many trades, including plumbing, HVAC, garage doors, landscaping, pest control, water treatment, heating, construction and others.</li>
<li>ServiceTitan is well positioned as a leader at scale in the trade industry. They currently operate in the United States, Canada and see significant opportunity in international markets.</li>
</ul>


ServiceTitan, a VC-backed cloud-based software company for the home and commercial service industries, files to go public and may raise up to $500M.
The company serves many trades, including plumbing, HVAC, garage doors, landscaping, pest control, water treatment, heating, construction and others.
ServiceTitan is well positioned as a leader at scale in the trade industry. They currently operate in the United States, Canada and see significant opportunity in international markets.


ServiceTitan IPO Preview: Great Success Story, Leader at Scale In The Trade Industry

Klarna Inc. provides provides e-commerce payment systems and solutions. The Company offers credit to shoppers and allows them to pay after they receive the goods. Klarna serves customers worldwide.

<ul>
<li>On 12 November, Klarna announced that it confidentially filed public offering paperwork. The company is getting ready for an IPO in 1H 2025.</li>
<li>Klarna's valuation reached as high as $45 billion in 2021 which declined to as low as $6.5 billion. Its valuation has recently risen to about $14.6 billion. </li>
<li>Klarna generated 13.27 billion SEK in revenue (US$1.2 billion) in 1H 2024 (up 27% YoY). Operating margin improved significantly from -18% in 1H 2023 to -2% in 1H 2024.</li>
</ul>


On 12 November, Klarna announced that it confidentially filed public offering paperwork. The company is getting ready for an IPO in 1H 2025.
Klarna's valuation reached as high as $45 billion in 2021 which declined to as low as $6.5 billion. Its valuation has recently risen to about $14.6 billion. 
Klarna generated 13.27 billion SEK in revenue (US$1.2 billion) in 1H 2024 (up 27% YoY). Operating margin improved significantly from -18% in 1H 2023 to -2% in 1H 2024.


US ECM
Coverage of US IPOs & Placements

2025 IPOs Pipeline (USA, Europe, and the Middle East)

In this insight, we provide a list of 70 prominent companies in the USA, Europe, and the Middle East that could complete their IPOs in 2025.

Douglas Kim

ServiceTitan IPO: Pricing and First Trading-Day, The Stock Jumped ~42% As A Public Company

ServiceTitan successfully completed its IPO and raised ~$625M. In my insight, I discuss pricing, post-listing valuation and trading dynamics.

Andrei Zakharov

ServiceTitan Valuation Analysis: Attractive First-Day Return, Initial Price Range: $52.00-$57.00

ServiceTitan will go public this week in the United States. In my insight, I discuss valuation analysis and set a 2025e price target for ServiceTitan.

Andrei Zakharov

ServiceTitan IPO Preview: Great Success Story, Leader at Scale In The Trade Industry

ServiceTitan, a founder-led software company and market leader for trades businesses, plans to raise up to $500M in upcoming US IPO.

Andrei Zakharov

Initial Thoughts on the Klarna IPO

Klarna announced that it confidentially filed an IPO offering paperwork in the US. Klarna's valuation reached as high as $45 billion in 2021. Its...

Douglas Kim