How Much Revenue Do You Need to IPO in 2024?

The IPO bar has risen—big time. In the 2010s, companies like RingCentral and Etsy went public with $100M-$250M in revenue. But today? You likely need $500M+ just to get a shot.

We’ll break down how IPOs evolved from the SaaS boom to the 2021 mega-deals (think Coinbase, Snowflake, and Airbnb), the 2022-23 freeze, and why 2024’s IPO class—Reddit, Klaviyo, Instacart—looks different.

Plus, we’ll preview 2025’s biggest potential IPOs, including Stripe, Databricks, and Deel. What’s the new rule? If you want to IPO, bring half a billion in revenue—or a damn good reason why you deserve to be public.

Visit mostlymetrics.com for more analysis like this

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit cjgustafson.substack.com