Tech IPOs and M&A Are Back!?

After two years of drought, the IPO and M&A markets are finally heating up — and not just with hype, but real deals, real numbers, and real momentum. From Klarna’s public debut to Google’s record-breaking acquisition of Wiz, 2025 is shaping up to be the year the market got back to business.

📈 According to S&P Global, tech IPOs in 2025 are poised to return to pre-pandemic levels, with pent-up demand, improving macroeconomic conditions, and a backlog of private tech companies ready to list. The IPO window is cracking open — and these four headline deals are leading the charge.

💳 Klarna: Europe’s BNPL Giant Goes Public $KLAR ( 0.0% )

Klarna is finally going public — and it's carrying the hopes of the European fintech sector on its shoulders.

Key Stats:

• 🗓️ Founded: 2005 (Sweden)

• 🌍 Presence: 25 countries, 675,000 merchants

• 👥 Customers: 93 million+

• 💰 Revenue: ~$1.5B+ (2024 est.)

• 📈 Turned a $21M profit in 2024 — a major swing from losses in 2022–2023

• 🇺🇸 U.S. expansion contributed to rapid growth but also past losses

Why It Matters:

Klarna’s IPO represents a maturity moment for BNPL. After massive growth in the 2020-2021 pandemic era and a painful correction, Klarna is proving BNPL can be profitable at scale.

🧠 CoreWeave: The AI Infrastructure Beast $CRWV ( ▼ 4.03% )

Originally a crypto miner, CoreWeave has pivoted and exploded into one of the most important AI cloud providers in the world.

Key Stats:

• 🧱 Infrastructure: 32 data centers, 250,000+ GPUs (mainly Nvidia)

• 🚀 Revenue:

  • $16M in 2022

  • $500M+ in 2023

  • $1.9B in 2024 🤯

• 📈 Projected IPO raise: $4B at a ~$35B valuation

• 🤝 Nvidia owns ~6% of the company

Why It Matters:

CoreWeave is the infrastructure behind the AI boom. As vertical AI becomes real business, investors are betting heavily on the foundational layers — and CoreWeave is capitalizing at the perfect moment.

🎟️ StubHub: Ticketing Returns to the Public Stage

StubHub is back with a bang — and this time, they’re riding the post-COVID wave of live events and global ticketing demand.

Key Stats:

• 🌐 Reach: Tickets sold in 200+ countries

• 💸 2024 Revenue: $1.77B (+30% YoY)

• 💥 2023 Revenue: $1.37B

• 🧾 Net Loss 2024: $2.8M (vs. $405M profit in 2023)

• 🎫 Tickets sold: 40M+ in 2024

Why It Matters:

Even with a slight dip in profits, revenue growth is robust. StubHub is proof that live entertainment is not just back — it’s booming. Investors are eager to reprice companies like this for the long term.

🔒 Wiz: $GOOG ( ▼ 1.38% ) Le’s $32B Cybersecurity Bet

Israel’s cloud security rocketship Wiz is getting acquired by Google for a whopping $32 billion in cash — the largest cybersecurity acquisition in history.

Key Stats:

• 🏙️ Founded: 2020

• 📈 ARR: $500M in 2024, aiming for $1B+ in 2025

• 🛡️ Clients: Hundreds of Fortune 1000 companies

• ☁️ Platform-agnostic: Works across AWS, Azure, and Google Cloud

• 🇮🇱 Based in Tel Aviv — another massive Israeli tech win

Why It Matters:

This is more than an M&A. It’s a signal that security, AI, and cloud are converging — and Big Tech is willing to pay anything for best-in-class startups. This is also a historic win for the Israeli ecosystem.

🧠 What This Means for the Market

After nearly two years of stalled liquidity, the public markets are waking up — and 2025 might be the reset we’ve been waiting for.

📊 According to S&P Global:

• Tech IPO activity could return to pre-pandemic norms in 2025

• Many companies held off on IPOs during 2022–2024 due to volatility

• The current wave is being led by AI, cybersecurity, and fintech firms

• Investors are now favoring sustainable revenue growth, profitability, and infrastructure over hype

This isn’t just a blip. This is a realignment — and the strongest companies from the last cycle are ready for primetime.

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