缩水近1000亿，今年最大“流血上市”来了

Core Viewpoint - Chime has created the largest "bloodbath" IPO in the capital market this year, with a significant drop in valuation compared to its last funding round [4][20]. Summary by Sections IPO Details - Chime went public on June 12, 2023, with an IPO price of $27, raising $832 million and targeting a valuation of $11.6 billion. On its first trading day, the stock closed at $37.11, a 37% increase, bringing its market cap to $13.5 billion [2][3]. Market Context - The timing of Chime's IPO is notable as many anticipated unicorns postponed or canceled their IPO plans due to the "tariff war" that began in April 2023. Chime's successful IPO is seen as a potential signal for the revival of the IPO market [3]. Valuation Discrepancy - Chime's last funding round in August 2021 valued the company at $25 billion, indicating a nearly $10 billion drop in valuation at the time of its IPO [4][20]. Financial Landscape in the U.S. - The article discusses the cultural differences in savings behavior between the U.S. and China, highlighting that a significant portion of American households do not have bank accounts or access to banking services [6][7]. Emergence of Digital Banks - The rise of digital banks, including Chime, is attributed to the need for more accessible financial services in the U.S. following the 2008 financial crisis. These banks aim to eliminate fees and minimum deposit requirements, promoting financial inclusivity [8][9]. Chime's Growth Journey - Chime was founded in 2012 and has raised over $2.65 billion in funding, with a valuation increase from $34 million in its A round to $25 billion before its IPO. The company has attracted notable investors, including Sequoia, SoftBank, and Tiger Global [12][13]. Financial Performance - Chime reported revenues of $1.3 billion in 2023, projected to grow to $1.7 billion in 2024, with a first-quarter revenue of $518 million in 2025. The company has also reduced its losses significantly from $203 million in 2023 to $25 million in 2024 [20]. Future Outlook - The financial performance and the introduction of ChimeCore, a software platform aimed at reducing operational costs, may improve Chime's financial health and provide opportunities for recovery for its investors [20][21].