Banking app Chime was valued at around $12 billion (and reaching up to $18 billion) on Wednesday, after making its debut on the Nasdaq index. It was boosted by the company reporting $1.3 billion in revenue in 2023 and $1.7 billion in 2024, according to an SEC filing.
But the journey to profitability (Chime became profitable in the first quarter of 2025) and an IPO wasn’t a slam dunk. The company’s original CTO told TechCrunch that they were actually broke a decade ago and were turned down by at least 100 venture capitalists.
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