The hottest IPOs Substack posts right now

And their main takeaways
Category
Top Business Topics

Issue #150: X Money Gets a Launch Date, Revolut Finally Gets Its UK Banking Licence, And SumUp Eyes a European IPO

Fintech Radar • 12 implied HN points • 17 Mar 26
💰 Finance IPOs
  1. X Money is launching soon with peer-to-peer transfers, a Visa debit card, and an aggressive ~6% yield, using X’s massive user base to cheaply build a deposit business.
  2. Revolut has won a full UK banking licence, unlocking lending and FSCS deposit protection so it can finally monetise its 13 million UK customers beyond interchange and FX.
  3. SumUp is courting banks for a European IPO in London, Amsterdam, or Frankfurt, which suggests profitable payments infrastructure companies might lead a new fintech listing wave even as public markets stay cautious.

IPO Watch: Ethos and Bitgo edition

Alex's Personal Blog • 131 implied HN points • 21 Jan 26
💼 Business IPOs
  1. AI is reshaping markets fast: consumer and enterprise AI products are driving big revenue and valuations, while demand for AI coding tools is soaring and companies are promising to limit their energy and water impact.
  2. Geopolitical and demographic risks are growing, with fraying alliances, market jitters over treasuries, and falling birth rates that together threaten long-term economic stability.
  3. The IPO and venture exit picture is tough: Ethos is growing but listing below prior private valuations, BitGo shows huge topline crypto flows but thin core profits, and many software unicorns face low exit multiples that make strong returns harder.

Can China’s AI IPOs give OpenAI and Anthropic courage?

Alex's Personal Blog • 98 implied HN points • 05 Jan 26
💼 Business IPOs
  1. A new image-editing feature in a popular AI model let users alter others' photos and led to sexualized deepfakes, sparking global backlash and showing that weak safeguards can cause big regulatory and reputational damage.
  2. The U.S.'s aggressive action against Venezuela's leader signals rising geopolitical tension that could push technology markets and supply chains to split into competing blocs over time.
  3. Strong investor interest in Chinese AI IPOs like Z.ai and MiniMax could encourage American AI labs to try public listings too, since U.S. labs generally have more revenue and need fresh capital.

China's AI IPOs have me all jealous

Alex's Personal Blog • 98 implied HN points • 31 Dec 25
💼 Business IPOs
  1. Twitter/X plans to raise creator payouts to get more unique user data for its AI and says it can block most fraud, which will likely push more incentivized posting.
  2. Meta’s buy of Manus signals a real push into enterprise AI, aiming to sell hosted models and agentic tools to companies instead of just using AI to support ads.
  3. Chinese AI firms like MiniMax are going public early with rapid consumer-driven revenue growth but remain unprofitable due to heavy R&D and weak consumer margins; the big test is whether they can scale higher-margin enterprise revenue without giving away too much value through open models.

How the AI bubble will unfold

Expand Mapping with Mike Morrow • 24 implied HN points • 17 Jan 26
💼 Business IPOs
  1. Major AI companies are burning huge amounts of cash and are staying private to avoid revealing weak financials, so an IPO could expose losses and trigger a sharp valuation drop.
  2. Training costs are enormous and likely to keep rising as models scale, while inference costs per token may fall but overall expenses can still grow because of bigger, token-hungry models and growing demand.
  3. The likely outcomes are limited: a rare proprietary breakthrough, real financial improvement through monetization and cost cuts (which risks losing users), or an IPO that reveals the losses and pops the bubble.
Get a weekly roundup of the best Substack posts, by hacker news affinity:

☁ God Bless Klaviyo

Hard Mode by Breaking SaaS • 235 implied HN points • 01 Sep 23
💼 Business IPOs
  1. Klaviyo's efficiency is part of their success with a high CAC Payback and low burn rate.
  2. Klaviyo's strong NRR of 119% is driven by price increases, customer contact growth, and new product launches.
  3. Klaviyo, as a purpose-built SaaS platform, combines data analytics and marketing to offer a unique solution.

Top Links 628 Will IPOs recover? Worrying about France. The chances of a new pandemic & atomic spaghetti.

Chartbook • 286 implied HN points • 24 Jan 25
💰 Finance IPOs
  1. IPOs have been quiet even though US stocks are doing well. This surprises some people.
  2. There's a concern about France and its current issues. People are paying attention to what could happen next.
  3. Discussions about new pandemics and food safety are becoming important. It's a reminder that we need to stay informed and be cautious.

Investing Update: Where Are The IPOs?

Spilled Coffee • 20 implied HN points • 13 Dec 25
💰 Finance IPOs
  1. The S&P 500 hit new all-time highs and is tracking toward a 6,900 year-end target.
  2. The rally is broadening beyond AI and the Mag 7 — equal-weight S&P and sectors like small-caps, industrials, and financials are making new highs.
  3. Markets got volatile as the Nasdaq underperformed after tech earnings and rising yields, and IPO activity remains surprisingly quiet.

One more IPO for the road

Alex's Personal Blog • 98 implied HN points • 15 Nov 24
💰 Finance IPOs
  1. WeRide and Pony.AI are two self-driving companies going public after some ups and downs in their stock prices. WeRide's stock is doing okay since listing, while Pony.AI is also gearing up for its IPO.
  2. Investors are showing strong interest in these companies because they focus on the growing robotaxi market in China. People want to invest directly in self-driving ventures instead of just betting on big companies like Alphabet.
  3. Both companies have potential for growth and are attracting capital to expand their services. This excitement around self-driving technology might lead to significant developments in the future.

What's going on with ServiceTitan's IPO, earnings updates, and stock market stupidity

Alex's Personal Blog • 32 implied HN points • 04 Dec 24
💰 Finance IPOs
  1. ServiceTitan is planning to go public, but it has some tough financial hurdles to overcome. The company needs to set a higher share price than what it is aiming for to avoid losing money during the process.
  2. Several companies, like Box and Salesforce, have recently reported positive earnings, showing they are performing better than expected. This positive news suggests some strength in the tech market.
  3. A recent coup attempt in South Korea ended quickly when lawmakers voted against martial law. It highlights the resilience of democratic processes in the country, even in dire situations.

The edge in trading IPOs: 18% annual return

Quant Trading Rules • 2 HN points • 08 Jun 24
💰 Finance IPOs
  1. Marsten Parker's IPO trading strategy focuses on frequently buying and selling IPOs shortly after they go public, with clear rules for entry and exit.
  2. Buying IPOs at all-time highs showed a significant edge over buying non-IPO stocks at all-time highs, with IPOs performing better after 20 days.
  3. Tweaking profit targets and stop-loss orders in IPO trading strategies can significantly impact annual returns, demonstrating the importance of optimizing these parameters for better performance.

SPACs a.k.a "Vegas Wedding Chapel of liquidity events"

Turnaround • 59 implied HN points • 25 Jan 21
💼 Business IPOs
  1. Startups are increasingly staying private longer due to the availability of private money and growth of Venture Capital and Private Equity.
  2. SPACs, or Special Purpose Acquisition Companies, offer more certainty and speed for companies going public compared to traditional IPOs.
  3. SPACs may be seen as more expensive than IPOs due to higher fees, but have evolved and come under greater scrutiny by the SEC.

Cybersecurity IPOs

The Security Industry • 5 implied HN points • 05 Dec 23
🕹 Technology IPOs
  1. There is speculation that the two-year drought in cybersecurity IPOs may end in 2024.
  2. Some cybersecurity vendors are growing but are being taken private instead of staying public.
  3. Companies with over 1,000 employees and strong growth rates might be ready for IPOs in the cybersecurity sector.

The Twitter IPO: Thoughts on the IPO End Game

Musings on Markets • 0 implied HN points • 28 Oct 13
💰 Finance IPOs
  1. Twitter's IPO pricing was set lower than expected, which could lead to a quick spike in stock price after the offering. This happens often in IPOs and can create excitement in the market.
  2. The IPO process usually involves underpricing to ensure that shares sell well, which means existing owners may miss out on potential profits. But they often accept this for a better long-term exit.
  3. Investors have different strategies for dealing with IPOs, like trying to buy shares at the offering price or waiting for stock price movements. Each approach carries its own risk and reward.

6/10 TBC Insider Digest

Tech Buzz China Insider • 0 implied HN points • 11 Jun 21
💼 Business IPOs
  1. The post discusses upcoming IPOs and companies in the tech industry to watch.
  2. Insights on specific companies like Jushuitan, Dingdong Maicai, and Kujiale are shared.
  3. Engagement opportunities like Zoom chats, WhatsApp groups, and forum discussions are highlighted.

6/24 TBC Insider Digest

Tech Buzz China Insider • 0 implied HN points • 25 Jun 21
🕹 Technology IPOs
  1. Chinese government is enforcing stricter rules on academic tutoring due to demographic crisis and for equal opportunity
  2. Despite regulations, there are still edtech IPOs happening, with AI tutoring growing rapidly
  3. Meicai is a $7Bn unicorn in China, focusing on food distribution from farmers to restaurants, with challenges in supply chain

Ah, so that's why we need an AI lab IPO this year

Alex's Personal Blog • 0 implied HN points • 20 Jan 26
💼 Business IPOs
  1. Global politics are fraying as the United States strains alliances and Europe moves toward more tech and economic self-reliance, which could shrink American influence and market access.
  2. AI adoption is skyrocketing worldwide, with multiple big players gaining massive user and enterprise traction, even as regulation lags and political favoritism complicates oversight.
  3. Venture capital is heavily concentrated in AI, creating pressure for big AI IPOs to return liquidity to investors while overall VC fundraising is down and non-AI startups—especially female-founded teams—are being left behind.

Facebook: Playing the "IPO pop" game?

Musings on Markets • 0 implied HN points • 23 Feb 12
💰 Finance IPOs
  1. Getting shares at the IPO price is tricky. Even if you bid, you might not get all the shares you want, which can lead to investing too much in overpriced stocks.
  2. Just because a stock usually pops on offering day doesn't mean it will this time. Bigger IPOs like Facebook might not have the same initial price jump as smaller ones.
  3. Timing your exit is crucial. Many IPOs don't perform well long-term, so it's often better to sell quickly after the offering if you want to make a profit.

7/8 TBC Insider Digest

Tech Buzz China Insider • 0 implied HN points • 08 Jul 21
💼 Business IPOs
  1. The recent investigation of Didi by the Cyberspace Administration of China has significant implications for data security and cross-border securities enforcement. Companies listing overseas will likely face stricter data security requirements.
  2. Following the Didi incident, China has announced a strict crackdown on illegal activities in securities, emphasizing the seriousness of maintaining law and order in the securities sector.
  3. Alibaba's reorganization and involvement in the Suning bailout show strategic moves in response to market dynamics, indicating a shift in focus towards rural China and potential implications on investment strategies.

August 2021 Tech Buzz China Newsletter

Tech Buzz China Insider • 0 implied HN points • 09 Dec 21
🕹 Technology IPOs
  1. Tech Buzz China is engaging in livecasts with investors and operators in China tech to share insights and network openly.
  2. The newsletter covers various topics like tech growth tactics, investments in consumer internet, and the relationship between government policies and business opportunities.
  3. A paid community, Tech Buzz China Insider, offers in-depth analyses on China tech for investors and operators.

"Bangsun Tech" STAR Market IPO Application Accepted

CyberSecurityMew • 0 implied HN points • 20 Jun 23
💼 Business IPOs
  1. Bangsun Tech's IPO application was accepted by the Sci-Tech innovation board on June 19, 2023.
  2. The company specializes in big data infrastructure software development and application solutions, particularly in smart finance and cybersecurity.
  3. Bangsun Tech plans to focus on expanding its products in intelligent risk control, anti-fraud, and anti-money laundering fields, as well as diversifying into areas like cybersecurity and transportation.