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Acorns, a leading micro-investing and financial services app, is reportedly considering going public in the near future. Founded in 2012, Acorns offers users the ability to invest spare change from everyday purchases into diversified portfolios of ETFs. The company has grown to nearly 6 million subscribers, providing services such as checking accounts, retirement savings, and debit cards.
CEO Noah Kerner recently indicated that an initial public offering (IPO) is "likely something we will do in the future," potentially within the next couple of years. This news comes after Acorns previously explored going public through a special purpose acquisition company (SPAC) deal in 2022, which was ultimately called off due to market conditions.
Kerner emphasized that Acorns is in a strong financial position, with "a lot of cash in the bank" and expectations for profitability by 2025. The company has no immediate plans to raise additional capital before a potential IPO.
In recent years, Acorns has expanded its offerings through strategic acquisitions and new product launches. The company acquired GoHenry, a UK-based money management platform for younger consumers, in April 2023. Additionally, Acorns introduced a premium tier focused on family financial wellness in October 2023, which includes features like investing for children and financial education tools.
As Acorns continues to grow its user base and diversify its services, the potential IPO could provide an opportunity for investors to participate in the company's future growth. However, the exact timing and details of any public offering remain uncertain, as market conditions and other factors will likely influence the company's decision-making process.
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While Acorns' IPO timeline remains uncertain, investors eager to explore opportunities in the fintech and micro-investing space don't have to wait. At Linqto, we offer members access to interests in promising private companies before they go public. Our platform provides the opportunity to invest in potential industry leaders like Acorns, with lower minimum investments than traditional private equity opportunities, allowing you to potentially benefit from their growth before they hit the public markets.
*These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO. The information provided above is based on current online discussions and is not intended as investment advice. Linqto does not endorse or guarantee the accuracy of this information, and we strongly recommend conducting your own research or consulting with a professional advisor before making any investment decisions. Linqto cannot be held liable for any investment outcomes resulting from the use of this information.
