#CircleIPO

Circle Internet Group, Ltd., operating under the name Circle, is a peer-to-peer payments technology company currently managing the stablecoin USDC, a cryptocurrency pegged to the US dollar. It was founded by Jeremy Allaire and Sean Neville in October 2013. Circle listed 34 million shares on the New York Stock Exchange on Thursday under the ticker symbol CRCL. The stock opened at $69 per share and quickly rose to $103.75, which is 235% higher than its initial public offering price of $31 per share. The company's IPO price set its initial market capitalization at $6.9 billion, a figure lower than Circle's last private market valuation of $7.7 billion in 2021 when the company raised $400 million in Series F, according to PitchBook data.