#CircleIPO Circle, the company behind the popular USD Coin (USDC) stablecoin, is planning to go public through an initial public offering (IPO). Here's what we know so far ¹:
- *IPO Filing*: Circle has filed an S-1 registration statement with the Securities and Exchange Commission (SEC) to list on the New York Stock Exchange (NYSE). However, the filing is still under review, and the timing of the IPO depends on the SEC's review process and market conditions.
- *Regulatory Hurdles*: The SEC has raised concerns over whether Circle's stablecoin, USDC, should be classified as a security. This regulatory scrutiny could impact the IPO process and timing.
- *Financial Performance*: Circle has reported strong financial performance, with $779 million in revenue in the first half of 2023, surpassing its full-year 2022 revenue of $772 million. The company also generated $219 million in adjusted earnings before interest, taxes, depreciation, and amortization during the same period.
- *Investment Opportunities*: Accredited investors can buy pre-IPO shares of Circle through platforms like EquityZen. Existing shareholders can also sell their shares on EquityZen's private company marketplace.
*Key Facts About Circle:*
- *Founded*: 2013
- *Headquarters*: Boston, MA, US
- *Total Funding*: $1.1 billion
- *Industries*: Software, Artificial Intelligence, Data and Analytics
- *Leadership*: Jeremy Allaire (CEO) and Jeremy Fox-Geen (CFO)
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The outcome of Circle's IPO attempt remains uncertain, but a successful public offering could provide greater legitimacy and mainstream acceptance for stablecoin issuers and potentially pave the way for other crypto companies to follow suit.
