Is Stripe the Most Anticipated IPO Since Coinbase? Here's What to Know.

Key Points

• With a recent valuation of $91 billion, Stripe could potentially be one of the largest IPOs ever.

• The IPO market is experiencing a significant rebound this year, with a 45% increase in deals priced from last year.

• This backdrop could be favorable for a listing, but Stripe management hasn't provided a timeline for going public.

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As markets rebound and investor sentiment grows more bullish, the initial public offering (IPO) market is experiencing a notable resurgence. After years of subdued activity, 2025 has ushered in a wave of public offerings. According to EY, 539 IPOs have raised $61.4 billion in the first half of the year, 109 of which took place in the United States, making it the busiest first half since 2021.

With robust pipelines, increasing deal flow, and stellar debuts in sectors such as artificial intelligence (AI), fintech, and digital assets, the environment appears to favor more companies going public. Against this backdrop, Stripe stands out as perhaps the most eagerly awaited public debut in finance since Coinbase in 2021.

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Stripe provides the rails for global payments

Stripe provides financial infrastructure, delivered through its software-as-a-service (SaaS) platform. At its core, Stripe offers application programming interfaces (APIs) and software solutions that empower businesses of all sizes, from start-ups to global enterprises, to integrate payment processing into their websites and mobile applications.

This integration enables companies to accept payments from customers worldwide, manage online transactions securely, and streamline their financial operations. Stripe's unified platform covers a wide array of payment needs, reducing friction for both businesses and end users. Its scalability and global reach have made it a preferred choice for companies seeking to expand online, particularly in high-growth sectors such as e-commerce, fintech, and digital services.

Stripe could be one of the largest public-market debuts ever

Conditions for companies going public are getting better. According to data from Renaissance Capital, there has been a 45% increase in deals priced year-over-year, underscoring a renewal of investor appetite for newly public companies.

In this environment, Stripe could command one of the highest valuations for any company going public in recent years. This year, the market has seen blockbusters like CoreWeave (with a current market capitalization of $59 billion) and Circle Internet Group (with a market capitalization of $44 billion) surge after their initial public offerings.

Stripe's most recent valuation, as of February 2025, was $91.5 billion, which is over 1.5 times its previous valuation. This valuation was determined through a tender offer for employees and investors.

The $91.5 billion valuation represents a strong rebound from its 2023 low of $50 billion, bringing it close to its 2021 peak of $95 billion. The company attributes this rising valuation partly to the adoption of AI-powered payment solutions. If Stripe does list around this valuation, it would be one of the largest IPOs ever.

Will Stripe go public soon?

Stripe routinely publishes annual letters detailing revenue, profitability, and payment volume, behaving more like a public company in terms of transparency.

Last year, it processed $1.4 trillion in total payment volume, representing a 38% increase over the prior year. Stripe's revenue and finance automation suite has surpassed a $500 million revenue run rate. This suite includes tools like Stripe Billing, which manages nearly 200 million active subscriptions for over 300,000 companies.

The company was profitable in 2024 and says it expects to continue to be profitable "in 2025 and beyond." This is an impressive feat, which is why many eagerly await the opportunity to invest in its public offering.

Despite years of anticipation, Stripe remains privately owned and has not set an official timeline for going public. It hasn't submitted any documentation to the Securities and Exchange Commission (SEC) for an IPO or a direct listing, and leaders reiterated that there are no immediate plans to go public in the near future.

The wait continues for investors

Stripe's potential public debut is eagerly anticipated. The company's enormous valuation, global footprint, and role in the modern digital economy have generated widespread excitement among investors and industry watchers alike.

With IPO activity on the rise and investment returning to high-growth sectors, the conditions may just be right for Stripe to go public. For those eager to participate in the growth of global financial infrastructure, Stripe presents a compelling investment opportunity. But for now, investors will just have to wait.

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Courtney Carlsen has no position in any of the stocks mentioned. The Motley Fool recommends Coinbase Global. The Motley Fool has a disclosure policy.