Chime, which almost sank in 2016, makes strong Wall Street debut; what changed?

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Chime Financial made a strong debut on the Nasdaq, as investor enthusiasm for the much-awaited listing lifted the stock. The counter rallied 37% on its first day after raising $864 million through the IPO.

The digital banking startup set a price of $27 for its shares at open, slightly above the earlier announced range of $24 to $26. They rose as much as 66% to $43, before closing at $37.11 apiece.

For founders Ryan King and Chris Britt, the successful listing was the culmination of a long and difficult journey, one that saw the company almost go under…



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Chime, which almost sank in 2016, makes strong Wall Street debut; what changed?


Chime Financial made a strong debut on the Nasdaq, as investor enthusiasm for the much-awaited listing lifted the stock. The counter rallied 37% on its first day after raising $864 million through the IPO.

The digital banking startup set a price of $27 for its shares at open, slightly above the earlier announced range of $24 to $26. They rose as much as 66% to $43, before closing at $37.11 apiece.

For founders Ryan King and Chris Britt, the successful listing was the culmination of a long and difficult journey, one that saw the company almost go under…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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