IPO Watch: Brands Going Public in 2026
From Databricks to Stripe to potential consumer brand IPOs, 2026 is shaping up to be a major year for companies going public. Here is what brand ownership watchers should know.
Why IPOs Matter for Brand Ownership
When a company goes public through an Initial Public Offering (IPO), its ownership structure changes fundamentally. Private founders, venture capitalists, and private equity firms give way to thousands or millions of public shareholders. The brand's strategic decisions become subject to quarterly earnings pressure, analyst scrutiny, and shareholder activism.
For consumers and brand ownership watchers, IPOs matter because they reveal who controls the brands you use. A privately held company can make long-term decisions without public market pressure. A publicly traded company must balance brand building with short-term financial performance.
2026 is shaping up as a significant year for IPOs, with several high-profile companies expected to list on public exchanges. Here is what you need to know.
The IPO Landscape in 2026
The IPO market froze in 2022-2023 as rising interest rates and market uncertainty made investors cautious. Activity picked up modestly in 2024 and more significantly in 2025, with notable listings including StubHub (NYSE: STUB, September 2025). Analysts expect 2026 to see the strongest IPO activity since 2021, driven by pent-up demand from companies that delayed going public.
Major Expected IPOs in 2026
Databricks
What it does: Enterprise data analytics and AI platform Expected valuation: $60+ billion Significance: Databricks raised $10 billion in a Series K round in September 2024, making it one of the most valuable private technology companies in the world. The company is reportedly "IPO-ready" and could list by early-to-mid 2026.
Brand ownership angle: Databricks competes directly with products from publicly traded companies including Snowflake, Microsoft (Azure), Amazon (AWS), and Alphabet (Google Cloud). Its IPO would create a new publicly traded competitor in the enterprise data space.
Stripe
What it does: Payment processing for internet businesses Expected valuation: $65-70 billion (down from $95B peak in 2021) Significance: Stripe processes hundreds of billions of dollars in payments annually and is used by millions of businesses worldwide. It has been one of the most anticipated IPOs for years.
Brand ownership angle: Stripe is the payment infrastructure behind countless consumer brands. If you have ever bought something online from a smaller brand, Stripe likely processed the payment. Its public listing would give visibility into the financial infrastructure underlying e-commerce.
Shein
What it does: Fast-fashion e-commerce platform Expected valuation: $50-60 billion (adjusted down from earlier estimates) Significance: Shein has filed confidentially for a U.S. IPO but faces regulatory scrutiny over supply chain practices, labor conditions, and data privacy. The listing timeline remains uncertain.
Brand ownership angle: Shein disrupted the fast-fashion industry that includes publicly traded competitors like H&M, Inditex (Zara), and Fast Retailing (Uniqlo). Its IPO would provide transparency into a company that has been notably opaque about its operations.
Klarna
What it does: Buy-now-pay-later (BNPL) financial services Expected valuation: $15-20 billion Significance: Swedish fintech Klarna filed for a U.S. IPO in late 2024 and is expected to list in 2026. The company partners with major retail brands to offer installment payment options.
Brand ownership angle: Klarna is embedded in the checkout experience of thousands of consumer brands. Its public listing would illuminate the financial model behind "buy now, pay later" services.
Possible Late-2026 or 2027 IPOs
- OpenAI: CEO Sam Altman has signaled potential interest in going public, though timing remains uncertain. An OpenAI IPO would be among the largest technology listings in history.
- Discord: The social platform for gaming communities has been rumored as an IPO candidate.
- Fanatics: The sports merchandise platform valued at $31 billion has IPO potential.
- Chime: The digital banking platform could list if fintech market conditions improve.
Recent IPOs That Changed Brand Ownership
Several recent IPOs have directly impacted brand ownership structures:
Kenvue (NYSE: KVUE) - May 2023
The largest consumer health IPO in history. Johnson & Johnson spun off its consumer health division (Tylenol, Listerine, Neutrogena, Band-Aid) as Kenvue. In November 2025, Kimberly-Clark announced it would acquire Kenvue for $48.7 billion, meaning Kenvue's time as an independent public company may be brief.
Birkenstock (NYSE: BIRK) - October 2023
The German footwear company went public at a $8.6 billion valuation. Previously owned by L Catterton (LVMH-affiliated private equity), the IPO gave public investors access to one of the world's fastest-growing footwear brands.
Amer Sports (NYSE: AS) - February 2024
The parent company of Arc'teryx, Salomon, and Wilson went public. Amer Sports is controlled by a consortium led by Chinese sportswear giant Anta Sports, making it an interesting case of Chinese-backed brands listing on U.S. exchanges.
StubHub (NYSE: STUB) - September 2025
The ticket marketplace, formerly owned by eBay and then Viagogo, went public in September 2025. The IPO priced at $23.50 per share, though shares dipped below the IPO price on the first trading day.
How IPOs Affect Consumers
Transparency Increases
Public companies must file quarterly and annual financial reports (10-Q, 10-K) with the SEC. These filings reveal revenue, profit margins, executive compensation, risk factors, and strategic plans. Consumers and researchers gain significantly more insight into a brand's operations after its parent company goes public.
Short-Term Pressure Can Affect Brands
Public companies face quarterly earnings pressure. This can lead to cost-cutting, price increases, or reduced investment in product quality to meet Wall Street expectations. Brands that thrived under patient private ownership sometimes struggle with public market demands.
Ownership Becomes Distributed
After an IPO, brand ownership shifts from concentrated private hands to distributed public shareholders. This means no single owner controls the brand's destiny, but it also means activist investors can push for changes (cost cuts, divestitures, strategic pivots) that may not align with long-term brand health.
Employee Incentives Change
Pre-IPO employees often hold stock options that vest at the IPO. Post-IPO, employee incentives become tied to stock performance, which can shift company culture from long-term product focus to short-term financial metrics.
The Private Equity Pipeline
Beyond traditional IPOs, private equity firms frequently take consumer brands public as an exit strategy:
- Private equity buys brand (often from a larger company divesting non-core assets)
- PE firm improves operations (cost cutting, revenue growth, operational efficiency)
- PE firm exits via IPO (selling shares to public investors at a profit)
Companies like KKR, Carlyle, Blackstone, and Apollo Global Management hold dozens of consumer brands that could eventually go public. Watching PE portfolios gives early signals about which brands might IPO.
Frequently Asked Questions
What consumer brands might go public in 2026?
Direct consumer brand IPOs are less common than technology company IPOs. However, companies like Shein (fast fashion), Fanatics (sports merchandise), and various PE-backed consumer companies are potential candidates. The Kraft Heinz split will also create a new publicly traded consumer goods company in the second half of 2026.
Does an IPO change the products I buy?
Not immediately. Products, formulations, and availability remain the same after an IPO. Over time, public market pressures may influence pricing, product quality, and brand strategy.
How can I track brand IPOs?
SEC filings (EDGAR database), financial news, and sites like Crunchbase, Dealroom, and Renaissance Capital track upcoming IPOs. WhoBrands updates brand ownership data as IPOs occur.
The Bottom Line
IPOs transform brand ownership from private to public, bringing transparency, accountability, and market pressure to companies that were previously opaque. For brand ownership watchers, 2026 promises to be an active year with potential blockbuster listings from Databricks, Stripe, and possibly Shein. Each IPO reshapes the competitive landscape and gives consumers more information about the companies behind the brands they use.
Track brand ownership changes on WhoBrands or browse companies by ownership type.
Sources
1. Crunchbase. "15 Companies That Could Go Public in 2026." 2025. 2. EquityZen. "2026 IPO Outlook." 2025. 3. Dealroom. "Top Upcoming IPOs and Recent IPOs." Updated 2026. 4. Access IPOs. "Upcoming IPOs 2026: 40+ Startups in the IPO Pipeline." 5. Renaissance Capital. "Most Likely IPOs." 2025.
All brand ownership data verified through WhoBrands.com's research methodology. Last updated: February 2, 2026.
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