March 2024 IPO watchlist: The top initial public offerings investors can't afford to miss

The initial public offering (IPO) market is expected to witness a surge of activity in March 2024, as several prominent startups and companies are gearing up to go public and raise funds from investors. Here are some of the top IPOs to watch in March 2024, based on their expected size, valuation, and growth potential.

Reddit: Reddit, the popular online platform for social news, discussion, and content creation, is planning to launch its IPO in March 2024, according to its co-founder and CEO Steve Huffman. Reddit aims to raise about US$10 billion from the public offering, valuing the company at around US$50 billion. Reddit has over 430 million monthly active users, who generate over 100 billion page views per month. Reddit is also known for its vibrant and diverse communities, called subreddits, which cover a wide range of topics, interests, and opinions. Reddit's revenue comes mainly from advertising, premium subscriptions, and awards.

Rubrik: Rubrik, a cloud data management company that provides backup, recovery, and security solutions, is preparing to file its IPO papers soon, according to its CEO Bipul Sinha. Rubrik intends to raise about US$8 billion from the IPO, valuing the company at around $40 billion. Rubrik has over 3,000 customers, including Cisco, Expedia, and Pfizer, and manages over 1.5 exabytes of data across multiple clouds. Rubrik's revenue comes mainly from software licenses, subscriptions, and professional services.

ServiceTitan: ServiceTitan, a software company that provides cloud-based solutions for home and commercial service businesses, is expected to launch its IPO in March 2024, according to its co-founder and CEO Ara Mahdessian. ServiceTitan aims to raise about US$6 billion from the IPO, valuing the company at around US$30 billion. ServiceTitan has over 8,000 customers, who serve over 20 million homeowners and generate over US$20 billion in annual revenue. ServiceTitan's revenue comes mainly from software subscriptions, transaction fees, and hardware sales.

Turo: Turo, a peer-to-peer car-sharing platform that allows users to rent and list their vehicles, is planning to go public in March 2024, according to its CEO Andre Haddad. Turo hopes to raise about US$4 billion from the IPO, valuing the company at around US$20 billion. Turo has over 14 million users, who have access to over 800,000 vehicles in 5,500 cities across 56 countries. Turo's revenue comes mainly from commissions, insurance fees, and delivery fees.

Ibotta: Ibotta, a mobile app that offers cash back and rewards for shopping, is preparing to file its IPO papers soon, according to its founder and CEO Bryan Leach. Ibotta expects to raise about US$3 billion from the IPO, valuing the company at around US$15 billion. Ibotta has over 40 million users, who have earned over US$1 billion in cash back and rewards from over 1,500 brands and retailers. Ibotta's revenue comes mainly from advertising, referrals, and partnerships.