The IPO market experienced a healthy 2025, but will 2026 be the year it fully bounces back?

Almost two dozen companies valued at over a billion dollars went public last year, versus only nine in 2024, Crunchbase reported. Total valuations for billion-dollar-plus listings more than doubled 2024’s, hitting $125 billion.

Measured by proceeds raised, 202 IPOs raised a total of $44 billion in 2025, according to Renaissance Capital, up from 150 that raised $29.6 billion in 2024.

New listings could get bigger in 2026, as the likes of OpenAI, Anthropic, and SpaceX line up advisors for their potential debuts on the public markets. Each could be a “mega-IPO” valued at over $100 billion at its listing price—and in some cases a lot more.

Keep reading.—CV

CFOs of midmarket firms say their organizations’ biggest execution challenges “are organizational, not technological,” the CFO Alliance concludes in a new survey report.

The 230-plus senior finance leaders surveyed ranked prioritization challenges as their biggest internal execution barrier, as selected by 32.1% of respondents. Following that was talent and resource constraints (26.9%). AI enablement and tech stack limitations were both much farther down the list (3.7% each).

A peer community of finance pros, CFO Alliance said the findings show CFOs believe there’s no shortage of ideas or ambition in their organizations, but rather a dearth of “attention, capacity, and sequencing discipline” to execute those initiatives.

Nick Araco, the CEO of CFO Alliance, told CFO Brew last month that “2026 has to be a year where we replace debate with data and execution.”

Keep reading.—AZ

On Wednesday, Zurich, Switzerland-based footwear maker On announced Frank Sluis as its new CFO, effective May 1. Sluis will replace Martin Hoffmann, who took on the dual role of CEO and CFO last year.

In a press release, Sluis said On’s “ambitious global growth trajectory” is an aspect of the brand he feels is “truly unique.”

“I am deeply passionate about sports and sustainability, and I strongly believe in On’s mission and culture. I could not be more excited to join the team and contribute to On’s journey forward,” he said.

On is known for its performance running shoes with square-shaped holes on the midsole. Within the last few years, the brand has risen to prominence alongside others like Hoka and Brooks.

Keep reading.—DL

The feeling of getting a 5/5 on the Brew’s weekly news quiz has been compared to getting a company-wide shout-out from your boss. It’s that satisfying.