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Chime Financial is expected to debut on the Nasdaq today. The fintech companys initial public offering (IPO) is one of the most anticipated of 2025, and investors and market watchers will be eagerly waiting to see how the newly public stock performs on its first day of trading. If it performs well, it could signal positive investor appetite for technology public offerings and the IPO market as a whole. Heres what to know about Chimes IPO. What is Chime? Chime Financial, Inc. is a fintech company. It was founded in 2012 and is based in San Francisco. The company offers banking products without the associated fees that traditional banks tack onto accounts. For example, many of Chimes online banking services dont have a minimum balance, or monthly service or overdraft fees. These fees are major drivers of revenue at traditional banks. So how does Chime generate revenue without them? The company says its business model is primarily based on interchange fees, which are the fees that merchants pay when they accept a card payment. Chime’s services can be accessed on the web and also via iPhone and Android apps. Chime is not a bank but rather offers banking services. It has partnerships with Bancorp Bank and Stride Bank. A diminished market cap With Chimes IPO, the company is now valued at approximately $11.6 billion, according to CNBC. However, that is less than half of its peak private valuation of $25 billion in 2021. In that year, Chime received a funding round of $750 million. One reason for Chimes high private valuation in 2021, relative to its valuation today, was the pandemic. As Fast Company previously noted, in the early 2020s, fintech companies experienced a surge in service usage from consumers and garnered significant attention from investors as the pandemic unfolded. Much of that excitement for companies operating in the fintech space has subsided in subsequent years. The market turmoil of 2025 has also made investors more cautious about companies operating in the finance sector and initial public offerings in general. In May, another fintech company, the online brokerage firm eToro Group (Nasdaq: ETOR), went public for $52 per share. As of yesterdays close, ETOR shares are trading at $62.96 per share. Chime by the numbers On May 13, Chime filed a Form F-1 with the U.S. Securities and Exchange Commission (SEC). In the F-1 filing, Chime reported the following metrics as of March 31, 2025: Active Chime members: 8.6 million Active member growth rate since Q1 2022: 82% Purchase volume: $121 billion Average revenue per active member (ARPAM): $251 Gross margin: 88% Transaction margin: 67% When is Chimes IPO? Chime priced its shares on Wednesday and is expected to begin trading today: Thursday, June 12, 2025. What is Chimes stock ticker? Chimes stock ticker is CHYM. What exchange will Chime shares trade on? Chime shares trade on the Nasdaq Global Select Market. What is the IPO share price of CHYM? Chimes IPO price is $27 per share. Thats higher than the expected IPO price of between $24 and $26. The higher IPO price of $27 per share suggests that Chime believes there is a greater appetite for its shares than previously thought. How many CHYM shares are available in its IPO? According to a company press release, a total of 32 million CHYM were made available in its IPO. Of those shares, Chime offered 25,900,765 Class A shares directly to the public. Existing company shareholders put up the remaining 6,099,235 shares. How much did Chime raise in its IPO? Chime raised approximately $700 million in its initial public offering. That consists of the proceeds from the 25.9 million shares the company sold directly. Chime did not benefit from the sale of the six million shares sold by its existing shareholders. How much is Chime worth? At its $27 IPO price, Chimes market cap is now valued at approximately $11.6 billion. What else is there to know? Chime is the latest in a number of closely watched tech-focused IPOs this year. In addition to the aforementioned eToro, stablecoin company Circle Internet Group went public earlier this month. Both stocks have performed well since their debut, raising hopes for the IPO market more broadly.
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E-Commerce
Shares of planemaker Boeing fell nearly 8% in premarket U.S. trading on Thursday after an Air India aircraft with 242 people crashed minutes after taking off from India’s western city of Ahmedabad. India’s federal health minister said “many people” were killed in the crash. The plane was headed to Gatwick Airport in the UK, with police officers saying it crashed in a civilian area near the Ahmedabad airport. Aviation tracking site Flightradar24 said the plane was a Boeing 787-8 Dreamliner, one of the most modern passenger aircraft in service. It was not immediately clear what caused the crash. Boeing said in a statement it was aware of initial reports and was working to gather more information. Boeing’s 787 is a newer series of jets with a solid safety record and no fatal crashes. While battery issues once grounded the fleet, no injuries were reported. The news comes as the planemaker tries to rebuild trust related to safety in its jets and ramp up production under new Chief Executive Officer Kelly Orthberg. Boeing’s shares were down about 7.5% at $197.82 in premarket trading. “It’s a knee jerk reaction (to the incident) and there’s revised fears of the problems that plagued Boeing aircraft and Boeing itself in recent years,” said Chris Beauchamp, analyst at IG Group. Shashwat Chauhan, Nathan Gomes and Purvi Agarwal, Reuters
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E-Commerce
Fraudulent job applications have become a serious issue in the era of remote interviews and AI-generated content. Research firm Gartner predicts that by 2028, up to 25% of applications could be fake. In some cases, fraudsters in North Korea have managed to land Western tech jobs under false pretenses, according to recent reports.One client recently told Daniel Chait, cofounder and CEO of hiring software company Greenhouse, that more than 70% of applications for remote tech roles theyre receiving are fake. Others have reported increasing difficulty sorting through waves of irrelevant or fraudulent submissions.What were hearing from them is that theyre overrun with spam, unqualified applicants, cheating (people using various means to pass job interviews), and fraud. [Its] willful misrepresentation in the process, often by kind of nefarious groups, Chait says.To combat the problem, Greenhouse is developing a new platform called Greenhouse Real Talent. The goal is to filter out unqualified candidates submitting AI-generated applications, those using AI tools during interviews, and individuals applying under fake identities.To help with identity verification, Greenhouse is partnering with Clear, the company best known for its expedited airport security service. In recent years, Clear has expanded beyond travel with a platform called Clear1. While airports were the initial focus, the company always intended to move into broader identity verification, says Clear cofounder and CEO Caryn Seidman Becker in an exclusive interview with Fast Company.Clear1 really does reflect our day one vision to make experiences safer and easier, physically and digitally, she says. Its what we talked about and pitched 15 years ago when we went out to raise capital to start Clear, and its coming to fruition today.[Animation: Clear]Clear now provides ID checks for LinkedIn verification badges, tool rentals at Home Depot, and patient check-ins at certain medical facilities. In April, it announced a partnership with DocuSign to integrate identity verification into digital contract signings. T-Mobile also uses Clear1 to authenticate employees, the companies announced Wednesday, saying biometrics help the telecom provider confirm employees actual identities, not just that they know a password or are in possession of a particular device.The Clear1 platform enables businesses to add identity checks into their websites or apps, whether on users phones or company tablets in places like medical offices. First-time users are typically asked to provide an email address and phone number, photograph a government-issued ID, and take a selfie to confirm theyre real. Future verifications are usually quicker.The process is meant to feel similar to logging in with Google credentials or using Apple Pay, allowing users to see what information is shared with the requesting company.They can verify with Clear just like you can pay with Apple, Seidman Becker says.The stage at which applicants are asked to verify their identity through Clear will depend on each companys process. Chait expects that employers using Real Talent, which is set to launch in the third quarter of this year, will ask applicants to reverify at key stages such as before video interviews.Behind the scenes, Clear checks various factors to validate documents, confirm the user matches them, and detect suspicious device activity. Seidman Becker says this provides a seamless way for businesses to ensure users are who they claim to be, without relying on multiple tools.Verification is also faster after a user completes the process once. According to the company, initial verification takes about 90 seconds, and later sessions typically take less than 15 seconds. Clear also offers alternative verification methods for users who struggle with certain stepsa common issue during the COVID-era unemployment surgethough Seidman Becker declined to share details, citing proprietary technology.There are other ways that we can work to verify you, as opposed to some more traditional ID verification companies that just sort of have one trick, if you will, she says.Chait adds that Real Talent will offer an alternative path for applicants who are unable or unwilling to use Clears standard process.If you, for a variety of reasons, dont want to or cant be part of that online verification process, therell be an alternative path, he says. But I think most people will find its a lot more convenient and a lot more straightforward to do it the Clear way.Clear has occasionally faced criticism from lawmakers and travelers over its paid airport perks and from privacy advocates concerned about biometric data use. Seidman Becker argues that Clears visibility and track record actually build trust among businesses and consumers handling sensitive data. She also believes the use of Clear online may drive more sign-ups for its airport services.In May, the company reported that first-quarter revenue rose 18.1% year over year to $211.4 million, with Clear+ airport memberships up 9.1%. Last fall, Clear introduced new facial recognition technology in airports, which it claims is significantly faster than its previous systems.As Seidman Becker puts it, You barely break stride, and it captures your face, and it is joyful and beautiful, and literally five times faster.
Category:
E-Commerce
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