Hinge Health, a digital healthcare company focused on physical therapy, had a successful IPO, closing at $37.56, a 17% increase from its $32 offer price. However, the company's market capitalization of $3 billion is less than half of its $6.2 billion valuation during its last private funding round in October 2021. The trend of companies going public at lower valuations than their last private rounds is becoming more common, as seen with Reddit and ServiceTitan. Hinge aims to address musculoskeletal pain through technology and a clinical team, raising $437 million in its IPO.
Hinge Health's IPO on the New York Stock Exchange closed up 17%, reaching $37.56 per share, yet its market cap remains significantly lower than its previous private valuation.
The public valuation of Hinge Health is approximately $3 billion, less than half of its $6.2 billion valuation during its late 2021 funding round.
Despite positive first-day trading results, the stigma around IPOs releasing below last private valuations is fading, as exemplified by companies like Reddit and ServiceTitan.
Hinge Health's innovative approach to reducing musculoskeletal pain leverages wearable technology and remote monitoring by a dedicated clinical care team.
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