Ventures Desk
Private Market Intelligence · IPOs · SPACs · Series B+
Valued at $159B after Feb 2026 tender offer, with secondary-market estimates near $177B by July 2026. Processing $1.9T in payment volume. IPO status is genuinely unclear: some reports point to a confidential S-1 filed in Feb 2026, while co-founder Collison has publicly downplayed near-term IPO plans.
IPO'd on NASDAQ (CRWV) Mar 28, 2025 at $40/share, $23B valuation. Surged 42% in first 3 days. Now public — watch for post-lock-up consolidation and AI capex cycle sensitivity. Revenue 12x multiple at $23B on $1.9B 2024 revenue.
IPO'd NYSE Sep 2025 at $40, debuted at +15%. Post-IPO compression through H1 2026 pushed shares well below IPO price. Lock-up expired Mar 9, 2026; chairman bought $50M in stock Mar 3-11 — a notable conviction signal. Check current price before acting — it moves fast and isn't tracked live on this page.
Valuation exploded from $380B (Series G, Feb 2026) to $965B post-money after a $65B Series H (May 2026). Confidentially filed for an IPO around June 2026 — the clearest signal yet that a public listing is coming. Burn rate remains elevated; not a yield play at this stage.
Valuation has roughly tripled through 2026 — $62B, to $134B (Series L, Dec 2025), to $190B on a new $5B round reported mid-Aug 2026. Revenue still growing 50%+ YoY. CEO Ali Ghodsi has explicitly ruled out a 2026 listing; IPO remains a 2027+ story.