Acorns to go public via an IPO or SPAC merger?

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Acorns to go public via an IPO or SPAC merger?

All you must know about Acorns IPO
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Highlights

  • Acorns is an American financial technology company, and it reportedly aims to go public by the end of this year.
  • In September 2021, Acorns reportedly hired David Hijirida as its president to step up the company's public debut plans.
  • Noah Kerner, who is the CEO of Acorns, is looking to establish the company as a brand and expand its business operations.

The American financial technology (fintech) company Acorns Grow Inc. is trending in North America after potential investors searched about the company's public debut plans. Although there was no significant announcement from the company, interested investors may have searched about the company as its public debut plans were out in May 2021.

In September 2021, Acorns reportedly hired David Hijirida as its president to step up the company's public debut plans. Mr Hijirida is a former employee of Amazon and had a stint at digital bank Simple.

Potential investors are searching for Acorns IPO, however, the fintech company had earlier said that it will merge with a blank-check company to go public in the US equities market.

Let's find out more about the company and its public debut plans in this article:

Acorns public debut plans: Key details


Before hiring Mr Hijirida, the California-based company had hired Rich Sullivan from Twitter to be a chief financial officer. Noah Kerner, who is the CEO of Acorns, is looking to establish the company as a brand and expand its business operations.

Also Read: Black Rifle Coffee SPAC: How to buy the veteran-focused firm's stock?

Acorns was reportedly valued at US$ 2.2 billion, and the company is looking to public through a merger with a special purpose acquisition company by the end of this year.

Acorns SPAC merger

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Notably, Rich Sullivan is an experienced professional and he led Twitter's financial planning and corporate finance for many years. He has over two decades of experience in mergers, acquisitions, investor relations and treasury.

Mr Sullivan's experience could help the company in achieving the successful completion of the SPAC deal. Acorns plans to merge with Pioneer Merger Corp, a SPAC listed on Nasdaq Capital Market and the combined entity will likely trade as Acorns Holdings on Nasdaq. 

Bottom line


Acorns was started in 2012 as a company specializing in Robo-investing and micro-investing. The company allows people to round up purchases and automatically invests the change.

Companies operating under the financial technology sector seem to have growth potential as the industry is evolving rapidly.

According to a Research and Markets report, the global fintech market was approximately worth US$ 7301.8 billion in 2020 and this industry is expected to record a compound annual growth rate of 26.9 per cent till 2026.

Also Read: Nexii Building Solutions IPO: Can you buy Nexiite-maker's stock?

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