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Circle IPO soars, giving hope to more startups waiting to go public | TechCrunch

Jun 05, 2025 - techcrunch.com
Circle, a major issuer of the stablecoin USDC, concluded its first day of trading as a public company with its stock price surging to $83.23, a 168% increase from its IPO price of $31. This significant rise reflects strong investor interest in cryptocurrencies and stablecoins, bolstered by the Trump administration's favorable stance on crypto assets. The IPO set Circle's initial market value at $6.1 billion, below its last private valuation of $7.7 billion, but the first-day trading surge increased its market capitalization to $16.7 billion. Circle raised approximately $1.1 billion through the offering.

The successful IPO marks a turnaround for Circle, which previously attempted to go public via a SPAC in 2022 at a $9 billion valuation. The company's largest external shareholders include General Catalyst and IDG Capital, with other notable investors being Accel, Breyer Capital, and Oak Investment Partners. Circle's IPO success, despite being priced below private market highs, is unlikely to deter other startups from considering public offerings, as demonstrated by upcoming IPOs from companies like Omada Health and Klarna.

Key takeaways:

  • Circle ended its first trading day as a public company at $83.23 per share, 168% above its IPO price of $31.
  • The IPO pop reflects strong public market interest in cryptocurrencies and stablecoins amid supportive policies from the Trump administration.
  • Circle's market capitalization reached $16.7 billion by the close of trading, despite an initial market value of $6.1 billion at the IPO price.
  • Circle's successful IPO follows a previous attempt to go public via a SPAC in 2022 at a $9 billion valuation.
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