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Updated: Renaissance Capital's 3Q 2025 US IPO Market Review

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IPO Window Fully Reopens in the Biggest Quarter Since 2021 The IPO window finally reopened in the 3Q, with 64 IPOs raising a combined $15.3 billion in the biggest quarter for new issuance since 2021. IPOs delayed by earlier macro headwinds were revived or even ...read more

StubHub founder's 100-to-1 super-voting rights signal the return of dual class shares in the IPO market

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Twenty years ago, StubHub’s co-founder and CEO Eric Baker was ousted from his company, a fate he made sure to prevent this time around. Last week, StubHub (STUB) completed its long-anticipated public listing, and thanks to super-voting dual class...read more

US IPO Weekly Recap: Klarna leads busiest week for IPOs since 2021, as more names join the pipeline

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7 sizable IPOs debuted this week, the most in nearly four years, joined by 3 SPACs. 10 IPOs and 6 SPACS submitting initial filings. Buy-now-pay-later e-commerce platform Klarna (KLAR) priced above its range to raise $1.4 billion at a market cap of...read more

Buy now trade later: E-commerce loan platform Klarna prices IPO above the range at $40

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Klarna Group, which provides a platform for e-commerce payment plans, raised $1.4 billion by offering 34.3 million shares (85% secondary) at $40, above the range of $35 to $37.  After about a month without any major listings, the US IPO market is back...read more