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1Scan for outdated or missing drivers - takes under a minute2Clear out junk files and repair common Windows errors3Fix the driver behind crashes, sound loss and screen glitchesFifteen companies appeared in TechCrunch’s February 1, 2025 roundup of IPOs reported to be in progress or under consideration for that year. The list mixed recent confidential filings, plans first reported in 2024, and attempts dating to 2023; it was a snapshot, not a schedule of guaranteed offerings. Later issuer announcements confirm that Voyager Technologies and Klarna completed IPOs in 2025. For other outcomes, the available reporting offers only partial confirmation.
What the 2025 IPO pipeline list meant
TechCrunch grouped 15 companies by when their reported IPO efforts began: three were reported to have filed confidentially in 2025, eight had plans or filings dating to 2024, and three had been trying since 2023. The roundup described a mix of company announcements and reporting by other outlets, not 15 confirmed offerings. TechCrunch’s February 1, 2025 roundup also cautioned that a company can delay or withdraw a confidential filing.
A confidential submission lets a company send registration documents to regulators without making them public, as TechCrunch explained. It is not the same as an approved offering, a priced IPO, or a listing that has begun trading.
Companies reported as filing in 2025
| Company | Reported filing or plan | Reported estimate at the time | Outcome confirmed in available sources |
|---|---|---|---|
| eToro | TechCrunch reported a confidential filing in January 2025. | A $5 billion target valuation was reported by TechCrunch in 2025; it was an expectation, not a final IPO valuation. | Forge Global’s July 2026 tracker lists eToro among completed 2025 IPOs. No issuer or exchange confirmation was retrieved for this article. Forge Global’s 2025 IPO tracker. |
| Voyager Technologies | TechCrunch reported a confidential filing in January 2025. | The Wall Street Journal, as cited by TechCrunch, reported a likely valuation of $2 billion to $3 billion. That was not a final offering valuation. | Voyager said its shares began trading on the NYSE as VOYG on June 11, 2025, and that its IPO closed June 12. Voyager’s trading announcement. |
| Karman Holdings | TechCrunch reported a confidential filing in January 2025 and an announced goal to raise up to $100 million. | Bloomberg, as cited by TechCrunch, reported the company could be valued at $3 billion or more. That was not a final deal valuation. | No later outcome is established by the sources available here. |
Companies with efforts reported since 2024
| Company | Reported filing or plan | Historical valuation or other reported figure | Outcome confirmed in available sources |
|---|---|---|---|
| Chime | TechCrunch reported a confidential filing in December 2024 and plans to go public in 2025. | $25 billion valuation in 2021, reported by TechCrunch in 2025; this was a historical mark, not an IPO price. | Forge Global’s July 2026 tracker lists Chime among completed 2025 IPOs. No issuer or exchange confirmation was retrieved for this article. Forge Global’s 2025 IPO tracker. |
| Klarna | TechCrunch reported a confidential filing in November 2024 and a hoped-for first-half 2025 IPO. | $14.6 billion valuation in 2024, reported by TechCrunch in 2025. | Klarna said trading on the NYSE as KLAR began September 10, 2025, and announced completion on September 11. Klarna’s IPO completion announcement. |
| Genesys | The company announced a confidential filing in October 2024. | Genesys’s most recent valuation was reported as $21 billion in 2021. Bloomberg, as relayed by TechCrunch, had earlier estimated the offering could raise as much as $2 billion; neither figure establishes an IPO result. | No later outcome is established by the sources available here. |
| Clario | TechCrunch reported a confidential filing in June 2024 and an anticipated 2025 listing. | A $10 billion valuation was reported by TechCrunch in 2025; it was a sought valuation, not a confirmed IPO value. | No later outcome is established by the sources available here. |
| Cerebras | The company announced a confidential filing in August 2024. | TechCrunch reported that Cerebras aimed to roughly double a then-current $4 billion valuation. The article also cited regulatory concerns related to investor and customer G42 as a possible source of delay. | No later outcome is established by the sources available here. |
| Circle | TechCrunch reported a confidential filing in January 2024 and relayed CEO Jeremy Allaire’s October 2024 statement to Bloomberg that Circle remained committed to going public. | An approximately $5 billion secondary-market valuation was reported by TechCrunch in 2025; it was not an IPO valuation. | Forge Global’s July 2026 tracker lists Circle among completed 2025 IPOs. No issuer or exchange confirmation was retrieved for this article. Forge Global’s 2025 IPO tracker. |
| Harry’s | TechCrunch reported that Reuters said the company filed confidentially in March 2024. | Sources cited by Reuters, as reported by TechCrunch, described revenue nearing $1 billion and profitability. TechCrunch also cited a $1.7 billion valuation in 2021. These were reported figures, not company-confirmed numbers in the sources reviewed here. | No later outcome is established by the sources available here. |
| Omada Health | TechCrunch reported a confidential filing in summer 2024. | $1 billion valuation in 2022, reported by TechCrunch in 2025. | Forge Global’s July 2026 tracker lists Omada Health among completed 2025 IPOs. No issuer confirmation was retrieved for this article. Forge Global’s 2025 IPO tracker. |
Companies whose IPO efforts dated to 2023
| Company | Reported history and plan as of February 2025 | Historical valuation or figure | Outcome confirmed in available sources |
|---|---|---|---|
| Shein | TechCrunch described a confidential U.S. filing in 2023, a reported U.K. filing in 2024, and political scrutiny. Its account was a February 2025 snapshot, not a current status assessment. | A $45 billion valuation in 2024, down from $100 billion in 2022, was reported by TechCrunch in 2025. | No later outcome is established by the sources available here. |
| General Atlantic | TechCrunch reported a confidential IPO filing in 2023 and said no public update on IPO plans had appeared since that filing as of February 1, 2025. | $103 billion in assets under management, attributed to General Atlantic and reported by TechCrunch in 2025. This is not a valuation. | No later outcome is established by the sources available here. |
| Oyo | TechCrunch reported an India confidential filing in March 2023 and a plan to try filing again in the first quarter of 2025. The proposed refiling was a report, not confirmation of an offering. | $3.8 billion valuation in 2024, reported by TechCrunch in 2025. | No later outcome is established by the sources available here. |
How to read the reported valuations and outcomes
The dollar figures in the roundup are not interchangeable. Some were historical valuations from prior years, some were secondary-market estimates, and others were reported targets or forecasts. They should not be treated as final IPO prices, current market values, or evidence of investment returns. The $100 million figure for Karman was a stated fundraising goal, not a valuation.
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The later-status column is deliberately limited to what the linked sources establish: issuer announcements confirm Voyager Technologies and Klarna, while Forge Global’s July 2026 tracker supplies secondary corroboration for eToro, Chime, Circle, and Omada Health. The sources used here do not establish outcomes for every other name, so their inclusion in the 2025 roundup should not be read as proof that they listed—or proof that they did not.
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