Chime IPO Raises $864M

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Chime almost died in 2016, turned down by 100 VCs. Today it IPO’d at $14.5B. | TechCrunch

Summary

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74% Informative

Chime raised $864 million in its IPO , pricing its shares at $ 27 , above its previously announced range of $24 to $26 .

Shares opened at $ 42 , putting it at $ 14.5 by midday in heavy trading, according to Yahoo Finance .

The company had its share of struggles like layoffs in 2022 and a fight with regulators in 2021 that forbid it from calling itself a bank.

“And the security guard says, Oh, I see that Chime card.’ And he winks at us,” King said. The founders asked if he was a Chime customer and the guard replied, “Checking and savings, baby!” and gave the founders a high five ..

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