Will Tech Startup Marqeta Become Profitable Post-IPO?
Marqeta opened its IPO with 45.5 million shares valued at $27 per share and earned over $1.2 billion. Also, Marqeta was given a market cap of about $15 million. Investors werent scared away by the earnings numbers in Marqetas S-1 filing. Shares in Marqeta gained 13 percent at the end of trading on June 9, which increased the companys market cap to $16 billion. While sustained losses might not appeal to some investors, Marqeta was able to highlight a decline in losses and an upward trend in revenues. Marqetas total processing volume neared $60 billion in 2020an increase from $21.7 billion in 2019. The boost in processing volume helped Marqeta more than double its revenue in 2020 to $290.3 million. Also, Marqeta says that it has processed $24 billion in the first quarter alone, although its revenues havent been disclosed.