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Yahoo
a day ago
- Business
- Yahoo
The Chime IPO: what investors should know about its $31 a share private market valuation and more
Times have changed for Chime, the once hot fintech that was valued at $25 billion in 2021. That year, the IPO market was sizzling when more than 1,000 companies went public on U.S. exchanges. Chime was widely expected to be one of those companies, but it chose to wait. Four years later, Chime's valuation appears to have fallen by more than half, while the IPO market is trying to rebound with some big names, like crypto provider Circle, looking to list. New issues have turned in some strong performances during the past month. The public offerings of online broker eToro Group, Hinge Health and MNTN, the connected TV advertising platform, each rose during their respective debuts and, more importantly, all three have remained above their IPO prices. One of the biggest tests for IPOs will come next week when Circle, the issuer of the crypto stablecoin USDC, begins trading on June 5. Circle could raise as much as $624 million at a roughly $6.7 billion valuation. The Circle IPO is multiple times oversubscribed, Bloomberg reported. Against this positive background, Chime is expected to launch its roadshow soon. It will then give more information on its pending IPO, including how many shares it will sell and at what price. The fintech will trade on the Nasdaq under the ticker CHYM. Founded in 2012, Chime offers traditional financial services, like fee-free checking and savings accounts, to lower income U.S. consumers that earn up to $100,000 a year. The startup had 8.6 million active members as of March 31, with two-thirds relying on Chime as their primary bank, according to a regulatory filing. Roughly 70% of its members use Chime to buy food, groceries, gas and utilities. As of March 31, the startup employed 1,465 workers, or 'Chimers,' spread across three offices, including one-third in San Francisco. Chime is not a bank and doesn't have a bank charter. Instead, it partners with Bancorp Bank and Stride Bank to provide its services. 'Chime definitely has a great brand for that particular cohort, the under banked,' said Dan Dolev, a senior analyst in fintech equity research at Mizuho Securities. 'They've done a great job getting the name out there.' Perhaps the biggest question hanging over Chime is its valuation. Chime has collected $2.3 billion in funding from investors, including General Atlantic, Tiger Global Management, and Sequoia Capital. In 2021, the last time Chime raised money, its shares were valued at $69.07 but that has fallen. Pricing data from Forge, an online marketplace for buying and selling shares of private firms, marked Chime at $31.50 as of May 26. Chime shares have actively traded in the private markets this year and the $31.50 is based on recent trading activity, Forge said. On Hiive, a private stock marketplace, the last accepted bid for Chime was $31 in early March, a spokesman said. There are also standing bids for Chime shares at $40 but no sellers, the spokesman said. This likely indicates that sellers are waiting for prices to move higher. Some believe it is misleading to value a company based on secondary market prices. The secondary market is considered less transparent than the public market, it is more loosely regulated and sales often involve small volumes of stocks, which may not accurately represent a company's true value. Either way, a $31 or $31.50 price for Chime indicates a drop in value of more than 50%. Chime has yet to disclose how many shares it has outstanding so the fintech's total valuation is unclear. 'Like many companies, Chime likely could have gotten a higher valuation had it gone public at the peak of the last cycle in 2021,' said Matt Kennedy, senior IPO strategist at Renaissance Capital, a provider of pre-IPO research that manages two IPO-focused ETFs (NYSE: IPO, IPOS). Chime declined to comment. The field of companies that offer services to lower income consumers has grown more crowded. Green Dot, which has targeted this segment since 2001, is currently up for sale. (Chris Britt, Chime's cofounder and CEO, previously worked at both Green Dot and Visa.) One of Chime's bigger rivals is Cash App, which targets the same group of low-income consumers. Revenue for Cash App in 2024 rose 11% to $16.2 billion, with most, about $10.1 billion, coming from Bitcoin trading. Block, formerly known as Square, owns Cash App. 'Cash App is so established that it makes it difficult to compete,' Dolev said. Mizuho's Dolev says Cash App, which has a debit card, has a more diversified revenue stream than Chime which relies on unregulated interchange—a term that describes debit card fees not subject to a federal cap. Dolev estimates that Chime makes about 1% of every dollar spent in debit card transactions on a net basis, while large banks are capped at 21 cents per transaction. For example, if a consumer uses a Chime debit card to buy $50 worth of groceries at the supermarket, the fintech makes about 50 is the first US-based neobank to go public via a traditional IPO, Renaissance Capital's Kennedy said. (Nu Holdings, of Brazil, went public in 2021 but targets Latin America.) Other neobanks waiting to launch their IPOs include Klarna, which is known more for its buy now, pay later, or BNPL, services. Klarna is reportedly delayed until late in 2025. Revolut, the London fintech, is a licensed bank in the EU and is widely anticipated to go public but has yet to set a date. Chime is unprofitable on a yearly basis with losses narrowing to $25.3 million in fiscal 2024. The company was profitable in the first quarter, reporting nearly $13 million in net income, compared to nearly $16 million in profit for the same quarter in 2024. (But it reported nearly $20 million in losses for the three months ended Dec. 31.) Revenue for Chime rose 31% to about $1.7 billion for fiscal 2024 and grew on a quarterly basis, by 32%, to $518.7 million for the three months ended March 31. A majority of its revenue comes from interchange. 'I think we would have liked to see more progress on the bottom line, the net income side, but I don't see any huge red flags,' Renaissance's Kennedy said. This story was originally featured on Sign in to access your portfolio
Time of India
4 days ago
- Automotive
- Time of India
How to download mods in RoadCraft
Image via Focus Entertainment Roadcraft has obtained its popularity for its massive open-world driving experience, offering players a blend of realistic vehicle control and exploration. One of the best ways to increase and enjoy this experience is by adding mods, community-made add-ons that bring fresh content such as vehicles, maps, and visual upgrades. If you are looking to enhance the gameplay or modify features, installing mods can significantly improve your time in Roadcraft. This guide will walk you through the process of downloading and installing mods safely in Roadcraft. Step-by-Step Guide to Installing RoadCraft Mods RoadCraft ● How To Connect And Link To A PROS Account For Mods Downloading mods in Roadcraft opens up a whole new world of possibilities, but it's important to note it with care. 1. Get ready to install the mods. Make sure your system supports modding: Check the game version: Mods sometimes work with specific versions of Roadcraft; make sure you are using the latest version of it. Back up your game: Backing up your game always helps you prevent data loss of game files. Install required tools: Some mods need mod loaders like Forge or Fabric to run properly. 2. Choose safe mod sources. Always download mods from a trusted source on platforms to avoid any malware damage to your game or device. Recommended sources include RoadCraft's official forums or Discord channels Reputable websites like CurseForge, ModDB, or Nexus Mods These platforms also offer us users reviews and ratings, which can make the mods more reliable and well-supported. 3. Download the Mod File Follow these steps for downloading: Navigate to the chosen mod's page. Read the mod description and installation instructions. Click the download button and save the file to a location you know. 4. Install the Mod Installation depends on the mod type: Compressed files (zip or .rar): Extract contents into the RoadCraft mods folder. For (.exe files): Run the installer and follow on-screen prompts. For mod loaders: Place the mod files into the designated mods folder. 5. Launch RoadCraft and verify After installation: Launch RoadCraft and look for new mod activation in settings. Start a new game or load a save to ensure everything is running smoothly. If there are any issues, try consulting the mod's instructions or removing the mod from the specific folder. Adding mods in Roadcraft is a great way to enjoy your gaming experience and try out new content that the game does not provide. With a bit of knowledge and attention, the installation of the mod is safe and simple. Just make sure you are downloading from a trusted source with user reviews and ratings, and do make sure you are following the instructions carefully and carefully backing up your saved files to keep your gameplay running smoothly. Get IPL 2025 match schedules , squads , points table , and live scores for CSK , MI , RCB , KKR , SRH , LSG , DC , GT , PBKS , and RR . Check the latest IPL Orange Cap and Purple Cap standings.
Hamilton Spectator
21-05-2025
- Sport
- Hamilton Spectator
Forge FC edges CF Montreal in first leg of Telus Canadian Championship quarterfinal
HAMILTON - Brian Wright's 78th-minute goal lifted Forge FC to a 1-0 win over CF Montreal in the first leg of their Telus Canadian Championship quarterfinal Tuesday. After a lacklustre first half dominated by the Canadian Premier League side, Montreal offered more to start the second half with spells of possession. But Forge broke the deadlock with Ghanaian winger Nana Opoku Ampomah curling a glorious ball over defender Brandan Craig's head for Wright to run onto in the Montreal penalty box. Goalkeeper Jonathan Sirois came off his line but Wright beat him to the ball, flicking it over the 'keeper before heading it into the open goal. It was a rare scoring chance on the night at Hamilton Stadium. The return leg is July 9 at Stade Saputo. The away goals rule is not in effect in the Canadian Championship. It marks the fifth straight year that Montreal and Forge have met in cup play. Montreal won the first three of those meetings — via penalty shootout in the 2021 semifinals (8-7 after the game ended in a scoreless draw), 3-0 in the '22 quarterfinal and 2-0 in the '23 semifinal. Forge edged Montreal 3-2 in last year's two-legged quarterfinal. After dispatching Montreal last year, Forge fell to Toronto FC on the away goals rule after the two-legged semifinal finished knotted at 2-2. In the other quarterfinal Tuesday, the defending champion Vancouver Whitecaps visited Valour FC. On Wednesday, it's CPL champion Cavalry FC at Vancouver FC. Atletico Ottawa hosts York United on June 11. Semifinal matchups will be redrawn following the conclusion of the quarterfinals. Coming off a 2-2 draw May 13 against league-leading Atletico Ottawa, Forge (2-0-4) is one of only two unbeaten teams in the CPL. But wins have been hard to come by and the Hamilton side sits fourth in the eight-team league. Forge has played four straight league draws, rallying from deficits to tie three of them. Montreal (1-9-4) is mired at the bottom of Major League Soccer's Eastern Conference. Forge had the better of the first half with 63 per cent possession and Montreal offering little more than hopeful long balls up the field. The CPL side outshot Montreal 4-2 but neither team managed a shot on target. Montreal's xG (expected goals) was 0.07 in the first half, compared to 0.37 for Forge. Noah Jensen put the ball in the Montreal goal in the 11th minute, picking up the scraps after Wright failed to make proper contact on a Mo Babouli cross into the penalty box. But Wright went early and the goal was called back for offside. Forge came close in the 18th with three players in the Montreal box trying unsuccessfully to put a shot on target through traffic in front during a wild sequence. Fernando Alvarez had Montreal's first chance off a corner in the 35th minute but his close-range shot was blocked by a defender. There was some bad blood in the 66th when Samuel Piette shoved Wright, who was blocking Sirois, on a Forge free kick. A scuffle ensued but broke up without incident. Interim Montreal coach Marco Donadel made seven changes to the starting 11 that was thumped 6-1 by Toronto FC in league play Saturday. Canadian defender Joel Waterman, sent off in the 21st minute Saturday, captained Montreal for the cup game with Piette starting on the bench. Montreal won its preliminary-round matchup via penalty shootout after Giacomo Vrioni's 88th-minute goal tied the game at 2-2. Forge downed Halifax Wanderers 3-1 in its opener. Both teams started five Canadians. Montreal was missing injured defender George Campbell and midfielders Bryce Duke, Fabian Herbers, Dominic Iankov and Hennadii Synchuk. Forge was without injured attackers Tristan Borges and Mathieu Choiniere and influential midfielder Alessandro Hojabrpour. Forge coach Bobby Smyrniotis made just two changes to his starting lineup with defenders Marko Jevremovic and Malik Owolabi-Belewu returning from injury. Alexander Achinioti-Jönsson moved into the midfield from the backline to fill in for Hojabrpour. The Canadian Championship winner hoists the Voyagers Cup, earns $50,000 and a berth in the CONCACAF Champions Cup. Montreal has won the cup competition five times, most recently in 2021, and finished runner-up three times. Forge made the cup final in the pandemic-delayed 2020 edition, losing to Toronto via penalty shootout in a tournament reduced to a championship game. This report by The Canadian Press was first published May 20, 2025.
Winnipeg Free Press
21-05-2025
- Sport
- Winnipeg Free Press
Forge FC edges CF Montreal in first leg of Telus Canadian Championship quarterfinal
HAMILTON – Brian Wright's 78th-minute goal lifted Forge FC to a 1-0 win over CF Montreal in the first leg of their Telus Canadian Championship quarterfinal Tuesday. After a lacklustre first half dominated by the Canadian Premier League side, Montreal offered more to start the second half with spells of possession. But Forge broke the deadlock with Ghanaian winger Nana Opoku Ampomah curling a glorious ball over defender Brandan Craig's head for Wright to run onto in the Montreal penalty box. Goalkeeper Jonathan Sirois came off his line but Wright beat him to the ball, flicking it over the 'keeper before heading it into the open goal. It was a rare scoring chance on the night at Hamilton Stadium. The return leg is July 9 at Stade Saputo. The away goals rule is not in effect in the Canadian Championship. It marks the fifth straight year that Montreal and Forge have met in cup play. Montreal won the first three of those meetings — via penalty shootout in the 2021 semifinals (8-7 after the game ended in a scoreless draw), 3-0 in the '22 quarterfinal and 2-0 in the '23 semifinal. Forge edged Montreal 3-2 in last year's two-legged quarterfinal. After dispatching Montreal last year, Forge fell to Toronto FC on the away goals rule after the two-legged semifinal finished knotted at 2-2. In the other quarterfinal Tuesday, the defending champion Vancouver Whitecaps visited Valour FC. On Wednesday, it's CPL champion Cavalry FC at Vancouver FC. Atletico Ottawa hosts York United on June 11. Semifinal matchups will be redrawn following the conclusion of the quarterfinals. Coming off a 2-2 draw May 13 against league-leading Atletico Ottawa, Forge (2-0-4) is one of only two unbeaten teams in the CPL. But wins have been hard to come by and the Hamilton side sits fourth in the eight-team league. Forge has played four straight league draws, rallying from deficits to tie three of them. Montreal (1-9-4) is mired at the bottom of Major League Soccer's Eastern Conference. Forge had the better of the first half with 63 per cent possession and Montreal offering little more than hopeful long balls up the field. The CPL side outshot Montreal 4-2 but neither team managed a shot on target. Montreal's xG (expected goals) was 0.07 in the first half, compared to 0.37 for Forge. Noah Jensen put the ball in the Montreal goal in the 11th minute, picking up the scraps after Wright failed to make proper contact on a Mo Babouli cross into the penalty box. But Wright went early and the goal was called back for offside. Forge came close in the 18th with three players in the Montreal box trying unsuccessfully to put a shot on target through traffic in front during a wild sequence. Fernando Alvarez had Montreal's first chance off a corner in the 35th minute but his close-range shot was blocked by a defender. There was some bad blood in the 66th when Samuel Piette shoved Wright, who was blocking Sirois, on a Forge free kick. A scuffle ensued but broke up without incident. Interim Montreal coach Marco Donadel made seven changes to the starting 11 that was thumped 6-1 by Toronto FC in league play Saturday. Canadian defender Joel Waterman, sent off in the 21st minute Saturday, captained Montreal for the cup game with Piette starting on the bench. Montreal won its preliminary-round matchup via penalty shootout after Giacomo Vrioni's 88th-minute goal tied the game at 2-2. Forge downed Halifax Wanderers 3-1 in its opener. Both teams started five Canadians. Montreal was missing injured defender George Campbell and midfielders Bryce Duke, Fabian Herbers, Dominic Iankov and Hennadii Synchuk. Thursdays Keep up to date on sports with Mike McIntyre's weekly newsletter. Forge was without injured attackers Tristan Borges and Mathieu Choiniere and influential midfielder Alessandro Hojabrpour. Forge coach Bobby Smyrniotis made just two changes to his starting lineup with defenders Marko Jevremovic and Malik Owolabi-Belewu returning from injury. Alexander Achinioti-Jönsson moved into the midfield from the backline to fill in for Hojabrpour. The Canadian Championship winner hoists the Voyagers Cup, earns $50,000 and a berth in the CONCACAF Champions Cup. Montreal has won the cup competition five times, most recently in 2021, and finished runner-up three times. Forge made the cup final in the pandemic-delayed 2020 edition, losing to Toronto via penalty shootout in a tournament reduced to a championship game. This report by The Canadian Press was first published May 20, 2025.
Hamilton Spectator
19-05-2025
- Sport
- Hamilton Spectator
After lopsided loss to TFC, CF Montreal looks to turn the page in cup game at Forge
Still smarting from a weekend 6-1 drubbing at the hands of rival Toronto FC, CF Montreal looks to turn the page Tuesday when it visits perennial Canadian Premier League powerhouse Forge FC in the opening leg of their Telus Canadian Championship quarterfinal. 'We've just got pick ourselves back up,' said Canadian midfielder Victor Loturi. 'We believe in the group still. Everybody in the locker-room, we still believe.' Montreal was reduced to 10 men in the 21st minute Saturday at Stade Saputo when defender Joel Waterman was sent off for a foul that denied Toronto forward Ola Brynhildsen a scoring chance. Toronto's six-goal outburst, which set a franchise record for goals in an MLS game, avenged a penalty shootout loss to Montreal in preliminary-round cup play April 30. The loss left Montreal in the Eastern Conference basement at 1-9-4. 'We (learn) from our mistakes every time. Also from the mistakes we did Saturday … For sure, last year and from the performance against Forge, we learned something,' said Montreal interim coach Marco Donadel, referencing a 3-2 loss to Forge on aggregate in the two-legged 2024 cup quarterfinal. 'But every year and every group, it's a different match.' The return leg is July 9 at Stade Saputo. Montreal and Forge are meeting in the Canadian Championship for the fifth straight year. Montreal won the first three of those meetings — via penalty shootout in the 2021 semifinals (8-7 after the game ended in a scoreless draw), 3-0 in the 2022 quarterfinal and 2-0 in '23 semifinal. After dispatching Montreal last year, Forge fell to Toronto FC on the away goals rule after the two-legged semifinal finished knotted at 2-2. Also Tuesday, the defending champion Vancouver Whitecaps return to cup action after a preliminary-round bye when they visit Valour FC. On Wednesday, it's Vancouver FC at CPL champion Cavalry FC. Atletico Ottawa hosts York United on June 11. Semifinal matchups will be redrawn following the conclusion of the two-legged quarterfinals. Montreal dispatched Toronto after Giacomo Vrioni's 88th-minute goal prompted the shootout with the preliminary-round game at BMO Field tied at 2-2 after regulation time. Forge downed Halifax Wanderers 3-1 in its opener. Forge coach Bobby Smyrniotis is not looking at the MLS standings in preparing his team for Montreal. 'It doesn't matter if they won 6-1 or lost the way they did on the weekend … They're a good team with good players and they know that,' he said. Coming off a 2-2 draw May 13 against league-leading Atletico Ottawa, Forge is one of only two unbeaten teams in the CPL. But wins have been hard to come by and the Hamilton side sits fourth in the eight-team league at 2-0-4. Forge has played four straight league draws, rallying to tie two of them. 'They have good players, experienced and young (players),' said Donadel. 'They attack well. They won many championships in (recent) years. The great advantage also mentally, they are used to playing games to win every time. We want to do it but we haven't won many in the last year and a half.' 'This is a very difficult game,' added the Italian native, citing the artificial turf at Hamilton Stadium. 'We need to go there very humble and understand the difficulties, prepare for the difficulties and react if we face some. With this mentality, we can go forward in any situation.' Donadel said he did not expect any of injured defender George Campbell and midfielders Bryce Duke, Fabian Herbers, Dominic Iankov and Hennadii Synchuk to be ready for Tuesday. But Campbell and Herbers may be back for Saturday's league visit by Los Angeles FC. Forge will be without injured attackers Tristan Borges and Mathieu Choiniere with influential midfielder Alessandro Hojabrpour a game-day decision. On the plus side, defenders Marko Jevremovic Malik Owolabi-Belewu will both be back in the lineup. Montreal's cause was not helped by opening the season with seven straight road games (0-5-2). Coach Laurent Courtois was fired five games in (0-4-1) and the club remained winless until May 10 when it edged New York City FC 1-0 at Yankee Stadium. The Canadian Championship winner hoists the Voyagers Cup, earns $50,000 and a berth in the CONCACAF Champions Cup. Montreal has won the competition five times, most recently in 2021, and finished runner-up three times. Forge made the cup final in the pandemic-delayed 2020 edition, losing to Toronto in a tournament reduced to a championship game. —- This report by The Canadian Press was first published May 19, 2025.
