The 5 Most Promising Pre-IPO Companies: Starlink, Stripe, Databricks, Shein, Discord
Educational material only; not investment advice.
Interest in upcoming IPOs 2026 is ticking up again: the market window opens intermittently, and on the watchlist are a potential Starlink IPO, Stripe IPO, Databricks IPO, a possible Shein listing, and long-discussed Discord.
Below is a concise, practical breakdown: what each business does, which metrics to watch, where to track the IPO calendar, how to gauge risks, and what to do as an investor before trading starts.
How We Picked the Most Anticipated IPOs
Criteria: revenue scale and quality, network effects/market share, transparency, readiness for public reporting (S-1/F-1), institutional interest, and a story a broad investor can understand.
Where to follow: company press releases, regulator and exchange sites (filings/prospectuses), major business media, Investor Relations pages, and industry dashboards. It helps to keep your own IPO calendar and mark new signals weekly.
Starlink IPO (SpaceX)
What it is: global satellite internet as a subscription. The story is scale, coverage, ARPU, and the margin profile of hardware + service.
What to track: active subscriptions and growth, ARPU, coverage expansion, launch cadence, CAPEX, terminal unit economics.
Investment logic: infrastructure demand + subscription model can create resilient cash flows; network effects—more coverage = more utility.
Risks: regulation and spectrum, competition, capital intensity, macro sensitivity.
Where to look: official company communications, top business media, regulatory publications. A concrete Starlink IPO date may remain unknown until the final announcement—anchor on official documents.
Stripe IPO
What it is: a payments platform (processing, billing, tax, issuing) growing enterprise and international revenue.
Metrics: gross margin, take rate, TPV (total payment volume), NRR (net revenue retention), revenue mix by product.
Drivers: product expansion, large-client partnerships, country localization, API-first approach.
Risks: intense payments competition, margin pressure, cross-border regulatory complexity.
Follow: company site, the future S-1, management interviews, coverage on funding rounds/valuations.
Databricks IPO
What it is: data/AI platform (Lakehouse architecture) for enterprise—an AI-era standardization play and migration to a unified stack.
Metrics: ARR, NRR, share of large enterprise, AI services usage, software/cloud mix gross margin.
Drivers: setting standards for the AI era, big-corp contracts, integration ecosystem.
Risks: competition with incumbents and hyperscalers, cyclicality of IT budgets.
Follow: product releases, partnerships, developer materials, future regulatory filings.
Shein IPO
What it is: global e-commerce/fast fashion with a powerful mobile funnel.
Metrics: GMV, revenue, order frequency, returns, logistics efficiency.
Drivers: strong supply chain, marketing platform, social reach, localization.
Risks: regulation/ESG scrutiny, margin pressure amid competition, FX.
Follow: listing jurisdiction updates, prospectuses/registrations, exchange and regulator news.
Discord IPO
What it is: a community-first platform (Nitro subscriptions, partner formats, integrations).
Metrics: MAU/DAU, ARPU, share of paying users, retention, B2B momentum.
Drivers: new paid features, creator economy, gaming and adjacent verticals.
Risks: monetizing a “social” audience, competition, moderation/safety.
Follow: product announcements, partnerships, media coverage, and—when the process starts—regulatory forms.
How to Buy Shares at IPO and Pre-IPO
Access to IPOs depends on your broker, jurisdiction, and investor status (asset/volume requirements). Read your platform’s rules.
Pre-IPO / secondary private shares—typically for qualified investors only, with higher risks and limited liquidity.
Listing day is often volatile: price range/bookbuilding → gaps → wider spreads. Plan execution with liquidity and the EU–US overlap in mind.
While you’re waiting on Starlink/Stripe/Databricks and others, consider putting idle capital to work. Many investors combine market exposure with fixed-income products (e.g., up to 20% APY, subject to terms and your risk profile) to smooth volatility and stay engaged while tracking the IPO calendar.
Mini Valuation Guide
- Business model: subscriptions/fees/platform/marketplace.
- Multiples: EV/Sales; Rule of 40 (software); EV/EBITDA (retail/logistics).
- Peers: compare against existing public comps.
- Quality of growth: NRR, margins, large-customer concentration.
- Risks: regulation, FX, CAPEX, reliance on a single channel.
Many investors keep a watchlist and enter with limit orders/tranches. That pairs well with “parking” some funds in fixed income meanwhile.
Pre-IPO Action Plan for Investors
- Build a dossier: business model, key drivers, risks, red flags.
- Track documents: prospectus (S-1/F-1), exchange/regulator updates, interviews.
- Execution strategy: limits over market at the open, 3–5 tranches, and liquid windows.
- Risk management: 0.5–2% of portfolio per idea; don’t average down without a signal; set invalidation/take-profit levels in advance.
- News calendar: roadshow, listing, earnings—and macro (rates/inflation) to avoid storm hours.
FAQ
Do Starlink/Stripe/Databricks/Shein/Discord have exact IPO dates?
Public dates typically appear closer to the prospectus filing and are confirmed by regulators/exchanges. Until then, rely on official statements and reputable business media.
Which candidate is “best”?
Depends on your thesis. Infrastructure (Starlink), fintech revenue (Stripe), AI/data (Databricks), e-commerce at scale (Shein), social/creator platform (Discord) — different risk/return profiles.
How to reduce portfolio volatility before IPOs?
Stage entries over time, use limit orders in liquid windows, and keep some capital in fixed-income instruments.
Takeaway
Keep it simple: choose your story (infrastructure, fintech, AI, retail, community), maintain an IPO calendar, read the documents, and plan execution ahead of time. Discipline (limits, tranches, risk per idea) beats headlines.
And while the market readies for 2026 listings, keep your cash quality high—fixed income helps you wait patiently without burning capital—so you can meet the big IPOs prepared, not rushed.