After Figma’s explosive IPO debut, which saw the design collaboration startup reach a multibillion-dollar valuation, the tech industry is buzzing with speculation: Who’s next in line to go public? Industry insiders, venture capitalists, and analysts are now closely watching a new cohort of startups poised to ride this momentum into the public markets.
The Figma IPO wasn’t just a financial success—it was a signal that investor confidence in high-growth tech startups is returning. Valued at over $12 billion at the time of listing, Figma has reignited interest in IPOs after a two-year lull marked by economic uncertainty and a tough fundraising environment.
Here’s a look at the top startups most likely to go public next, according to seasoned insiders in Silicon Valley, Wall Street, and beyond.
1. Stripe
Sector: Fintech
Last Known Valuation: $50B+
Why It’s on the Radar:
Stripe is considered the crown jewel of private fintech. With global clients like Amazon, Shopify, and Instacart, Stripe processes hundreds of billions of dollars in transactions annually. Insiders believe Stripe has been IPO-ready for years, but co-founders Patrick and John Collison have taken a cautious approach. That may change soon, as public market appetite heats up for stable, revenue-generating fintechs.
Analyst Insight: “Stripe has the scale and profitability profile to rival PayPal. Its IPO would be a defining moment for the fintech sector.”
2. Databricks
Sector: AI & Data Infrastructure
Last Known Valuation: $43B
Why It’s on the Radar:
With the AI boom in full swing, Databricks is at the center of it all. Its data lakehouse platform integrates AI and machine learning into big data workflows, making it essential for enterprise-level tech stacks. After acquiring MosaicML and expanding partnerships with Microsoft and AWS, analysts expect a public offering could happen in the next 12 months.
VC Prediction: “Databricks is riding the same AI wave that lifted Nvidia. The market is hungry for a pure-play data AI platform—and they’re it.”
3. Reddit
Sector: Social Media / Community
Last Known Valuation: $10B
Why It’s on the Radar:
After filing confidentially for an IPO back in 2021, Reddit delayed its debut due to macroeconomic volatility. But with user engagement at record highs and growing ad revenue, Reddit could capitalize on a relatively uncrowded social media IPO field.
Insider Take: “They’ve weathered the storms. With community power and brand loyalty, Reddit has a unique niche among public tech companies.”
4. Klarna
Sector: Buy Now, Pay Later (BNPL)
Last Known Valuation: $6.7B (down from $45.6B in 2021)
Why It’s on the Radar:
Despite a steep valuation drop, Klarna is restructuring and shifting focus toward profitability. With the global BNPL market still expanding, Klarna’s massive customer base across Europe and the U.S. could give it the leverage to attempt a comeback IPO.
Market Analyst View: “Klarna’s reset valuation may actually make it attractive. Investors like a good turnaround story.”
5. Discord
Sector: Communication / Gaming / Community
Last Known Valuation: $15B
Why It’s on the Radar:
Discord’s unique mix of community, chat, voice, and video has made it a staple among Gen Z users and gamers. With monetization strategies like premium servers and subscriptions now in place, insiders expect Discord to test public waters soon, especially given its sticky user base and cultural relevance.
Tech Investor Opinion: “If Reddit can go public, Discord isn’t far behind. It’s one of the few platforms with deep user engagement and scalability.”
6. Chime
Sector: Neobank / Fintech
Last Known Valuation: $25B
Why It’s on the Radar:
Chime disrupted traditional banking by offering zero-fee services and mobile-first banking solutions. With millions of users and a strong growth record, it’s seen as the leading neobank candidate to IPO. Though it pulled back plans in 2022, improved financial conditions may bring those talks back to the table.
VC Insight: “Chime has a loyal user base and unit economics that can be public-market friendly.”
7. Plaid
Sector: Fintech Infrastructure
Last Known Valuation: $13.4B
Why It’s on the Radar:
Plaid powers the back-end connections between financial accounts and fintech apps like Robinhood, Venmo, and Coinbase. With finance increasingly digitized, Plaid sits at the heart of modern financial infrastructure. Analysts say it’s a matter of “when” not “if.”
Industry Buzz: “Plaid is the AWS of fintech data—its IPO could be quietly massive.”
The IPO Climate: Why Now?
After a quiet 2022–2023 IPO market due to inflation, high interest rates, and macro volatility, 2024 is shaping up as a comeback year. The Figma IPO sent a strong message: well-run, growth-ready tech companies can still thrive in the public markets.
Several factors are aligning:
Stabilized interest rates in major economies
Strong appetite for AI, fintech, and enterprise SaaS among investors
Pent-up demand from startups that delayed IPOs for 2+ years
High liquidity in private markets creating pressure for exits
What This Means for Founders and Investors
For startup founders, this wave signals a potential exit path—and an opportunity to raise public capital for scaling. For early investors, it’s a long-awaited moment to realize returns. And for retail investors? These upcoming IPOs could offer a chance to get in on the next generation of tech titans—if they make it past the volatility of going public.
Conclusion: A New Tech IPO Era?
With Figma setting the stage, the IPO pipeline is heating up. Stripe, Databricks, Reddit, and others represent a diverse range of sectors—from infrastructure to consumer apps—making the next year one of the most dynamic for tech public offerings in recent history.
Whether these companies choose traditional IPOs, direct listings, or SPAC mergers, one thing is clear: The IPO window is open again, and the startups that dominate it will shape the next decade of tech innovation.
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