Tune in to CNBC all week for ongoing coverage of this year’s CNBC Disruptor 50 list.
Chime
opened at $43 in its Nasdaq debut on Thursday after selling shares at $27 each in an IPO that valued the online banking company at $11.6 billion.
Late Wednesday, Chime raised about $700 million in its offering, and existing investors sold an additional $165 million worth of shares. The stock is trading under the ticker symbol CHYM.
Chime’s IPO, from a valuation perspective, represents a big step down from where venture investors like Sequoia Capital valued the company in its last fundraising round in 2021, when private tech markets were raging. The valuation at the time was $25 billion.
