5 new IPO deep dives: Checkout.com, Switch, Databento, Public, AlphaSense.
Checkout.com processed $300B+ in 2025 (+64%), grew net revenue 45% in 2024 and 30%+ in 2025, and turned its first full-year EBITDA profit (>10% adjusted margin) — at a $12B internal 409A valuation, 70% below its $40B Series D of January 2022. Every mark since…
Switch — taken private by DigitalBridge and IFM at $11B in December 2022 — has reportedly filed confidentially for a US IPO as soon as November 2026 with BofA, Citi, Goldman, JPMorgan and Morgan Stanley, alongside an a16z-led ~$2B private round near $50B and …
Databento closed a $97.0M Series B led by NEA in 2026 (Form D first sale April 29, filed July 9) against $300M+ of demand, reports 6.65× year-over-year revenue growth, 97% enterprise retention and profitability at 24 employees — and has never disclosed revenu…
Public.com's last disclosed valuation is the $1.2B Series D of February 2021; the $135M Series D-2 in December 2024 (Accel; $105M equity + $30M debt) came with no price, Forge carries an unverified $983M mark, and secondary quotes are drifting down. Revenue h…
AlphaSense raised $350M at $7.5B on June 3, 2026 (Vitruvian, Accenture Ventures, J.P. Morgan AM), disclosed ARR above $600M in Q1 2026 — reportedly $700M+ by July — growing ~40%, hired a capital-markets CFO in April, and is reported to be working with adviser…
Roster names whose status is at or past a filing — ordered by last mark. Statuses are as recorded on the roster; a confidential draft is reported, not visible on EDGAR.
| Company | Status | Year | Last mark |
|---|---|---|---|
| Anthropic | filed | 2027 | $1T |
| Shein | filed | 2026 | $50B |
| Ripple | expected | 2026 | $19.1B |
| Discord | filed | 2026 | $15B |
| Switch | filed_confidentially | 2026 | $11B |
| Kraken | expected | 2026 | $10.9B |
| Grafana Labs | expected | 2026 | $9.5B |
| Bolt (Mobility) | imminent | — | $8.8B |
| Blockchain.com | filed | 2026 | $7B |
| Strava | Confidentially filed for IPO | 2026 | $2.2B |
| Motive | Filed S-1 December 2025, NYSE:MTVE | 2026 | $2.1B |
| Turo | filed | — | $1.3B |
Recent major-exchange debuts: return since offer price and the engine’s live read.
Every call is on the record before it resolves — see the full ledger.
Every number above is on the site, dated and graded. Track the pre-IPO roster, filings and secondary marks on the Private Companies dashboard.
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