Hot Upcoming IPOs to Watch

The most exciting upcoming IPOs include buy now, pay later firm Klarna and online ticket marketplace StubHub.

digital upcoming ipos concept with image IPO written on a clipboard alongside a magnifying glass, calculator and calendar
(Image credit: Getty Images)

The initial public offering (IPO) market started to pick up the pace late in the first quarter, but concerns about the economic impact of the Trump administration's tariffs had some companies pressing the pause button amid broader market uncertainty.

In addition to the uncertainty surrounding tariffs, a sell-off in tech stocks and increasing market volatility at the start of the year made pricing new offerings a major challenge.

"There was a pretty clear shift in IPO sentiment after the tariff announcements, which introduced a lot of uncertainty into the market," says Avery Marquez, director of investment strategies at Renaissance Capital.

"Volatility can be a strong headwind for new issuance, even when investor sentiment and risk appetite are robust. But this came while the trading environment was already somewhat weak in the wake of the mid-Q1 sell-off," Marquez adds.

But a round of several well-received IPOs, including stablecoin issuer Circle Internet Group (CRCL), have sparked a resurgence in offerings.

According to Renaissance Capital, a leading provider of pre-IPO research and IPO-focused ETFs, there have been 100 IPOs priced so far in 2025, through July 3, up 43% year over year.

And there have been 122 offerings filed, a 13% increase from the year prior. Among the most recent companies to announce its intention to go public is design software vendor Figma, which filed its IPO prospectus on July 1.

Figma plans to go public sometime in the second half of 2025 and will trade on the New York Stock Exchange (NYSE) under the ticker symbol "FIG."

Tom Taulli
Contributing Writer, Kiplinger.com

Tom Taulli has been developing software since the 1980s when he was in high school. He sold his applications to a variety of publications. In college, he started his first company, which focused on the development of e-learning systems. He would go on to create other companies as well, including Hypermart.net that was sold to InfoSpace in 1996. Along the way, Tom has written columns for online publications such as Bloomberg, Forbes, Barron's and Kiplinger. He has also written a variety of books, including Artificial Intelligence Basics: A Non-Technical Introduction. He can be reached on Twitter at @ttaulli.