IPO Dashboard: Track Upcoming IPOs & Market Performance

The CODEW Intelligence

Tech IPO Dashboard

Tracking technology IPOs from private-market preparation to public-market debut—analyzing valuations, pricing dynamics, pipeline velocity, and post-IPO performance.

Core Market Snapshot (YTD)

Completed Tech IPOs

38

+46.1% YoY

Total Capital Raised

$18.4B

+68.2% YoY

Avg. IPO Valuation

$4.8B

+15.3% YoY

Avg. Day-One Pop

+18.4%

+4.2% YoY

Priced Above Range

42.1%

16 Offerings

Active S-1 Pipeline

142

+28.8% YoY

Interactive Tech IPO Calculator

Model private-to-public valuation step-ups, day-one market returns, and market capitalization expansion in real time.

Last Private Valuation ($B)

Target IPO Valuation ($B)

Offer Price ($)

Current / Close Price ($)

Private-to-Public Step-Up: 1.25x

Public Return (%): +54.0%

Implied Market Cap ($B): $19.25B

Total Expansion ($B): +$9.25B

1. Active IPO Pipeline Watchlist

Company	Sector	Status	Target Date	Est. Valuation	Last Private Val	Step-Up Multiple	LTM Revenue	Lead Underwriters
Stripe	Fintech	Expected	Q4 2026	$70.0B	$65.0B	1.08x	$4.2B	Goldman Sachs, JPMorgan
Databricks	AI / Data	Filed	Q4 2026	$32.0B	$43.0B	0.74x	$2.4B	Morgan Stanley, Goldman Sachs
Chime	Fintech	Filed	Q4 2026	$8.5B	$25.0B	0.34x	$1.6B	Morgan Stanley
Cerebras Systems	Semiconductors	Filed	Q4 2026	$8.0B	$4.0B	2.00x	$280M	Citigroup, Barclays
Scale AI	AI Infrastructure	Expected	Q1 2027	$14.0B	$13.8B	1.01x	$870M	Morgan Stanley, BofA
Canva	Enterprise Software	Expected	Q1 2027	$26.0B	$26.0B	1.00x	$2.3B	Goldman Sachs, Allen & Co
CoreWeave	AI Infrastructure	Rumored	Q1 2027	$23.0B	$19.0B	1.21x	$1.9B	JPMorgan, Goldman Sachs
Discord	Consumer Tech	Rumored	Q2 2027	$12.0B	$15.0B	0.80x	$620M	Goldman Sachs

2. Completed Tech IPO Performance Tracker

Company	IPO Date	Ticker	Offer Price	IPO Valuation	Capital Raised	Day-1 Pop	Current Price	Current Market Cap	Total Return
Astera Labs	Mar 2024	ALAB	$36.00	$5.5B	$713M	+72.3%	$78.50	$12.2B	+118.1%
Reddit	Mar 2024	RDDT	$34.00	$6.4B	$748M	+48.4%	$64.20	$10.8B	+88.8%
Rubrik	Apr 2024	RBRK	$32.00	$5.6B	$752M	+15.6%	$38.40	$6.9B	+20.0%
Waystar	Jun 2024	WAY	$21.50	$3.7B	$968M	+0.5%	$24.10	$4.1B	+12.1%
Ibotta	Apr 2024	IBTA	$88.00	$2.7B	$577M	+17.3%	$58.30	$1.8B	-33.8%
Tempus AI	Jun 2024	TEM	$37.00	$6.1B	$410M	+8.8%	$48.90	$8.2B	+32.2%

3. Sector Intelligence Breakdown

Sector	IPO Count	Capital Raised	Avg. Valuation	Avg. EV / LTM Revenue	Avg. Day-1 Pop	Win Rate (% > Offer)
AI Infrastructure	6	$5.2B	$8.4B	18.2x	+34.5%	83.3%
Semiconductors & Hardware	4	$2.8B	$6.1B	14.5x	+41.2%	75.0%
Enterprise Software / SaaS	12	$4.1B	$3.2B	8.1x	+11.2%	58.3%
Cybersecurity	5	$2.4B	$4.8B	11.4x	+16.8%	80.0%
Fintech	4	$1.9B	$2.9B	5.8x	+6.4%	25.0%

4. Market Health Index

CODEW IPO Market Score

IMPROVING / SELECTIVE

68 / 100

Weak (0-30) Improving (31-70) Healthy (71-85) Frothy (86-100)

5. Historical Tech IPO Cycles

1997 – 2002

The Dot-Com Boom & Crash

Unprecedented issuance driven by early internet portals. Market peaked in 2000 with 300+ tech listings before entering a multi-year freeze.

2007 – 2014

Web 2.0 & Cloud Expansion

Post-GFC recovery marked by platform debuts including Google, Facebook, Salesforce, and ServiceNow.

2020 – 2021

ZIRP Era & SPAC Surge

Zero interest rate policy drove over $150B raised in tech IPOs in 2021 alone, with forward revenue multiples exceeding 25x.

2024 – Present

The AI & Efficiency Revival

Selective reopening focused on profitable growth, Rule-of-40 efficiency, and foundational AI hardware infrastructure.

The CODEW Lens: Is the Tech IPO Window Truly Open?

Public markets have fundamentally decoupled growth rate from valuation multiples, demanding free cash flow profitability over top-line growth at any cost. While AI infrastructure providers enjoy premium step-ups, late-stage fintech and consumer tech companies face "reset" down-round listings to clear legacy cap tables.