Marqeta IPO: Riding the Fintech Wave
- Date: 13-Jun-2021
- Source: Nasdaq
- Sector:Financial Markets
- Country:Middle East
Marqeta IPO: Riding the Fintech Wave
Marqeta (MQ), which is a payments processing operator, pulled off its IPO last week. On the first day of trading, the shares rose by 13% to $30.50, putting the market capitalization over $16 billion.
The performance may seem unimpressive, but it's actually strong, considering that the company initially set a range for the offering at $20 to $24. (See Marqeta Stock Stats and Charts on TipRanks)
The underwriters on the offering included Goldman Sachs (GS), J.P. Morgan (JPM), Citi (C), Barclays (BCS), William Blair, and KeyBanc Capital Markets. The most recent private round of funding was disclosed in May 2020: the company had raised $150 million from an undisclosed investor at a $4.3 billion valuation.
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