(Reuters) -Shares of Hinge Health rose 22.7% above the initial public offering price in their NYSE debut on Thursday, giving the digital health platform backed by Insight Partners a valuation of $3.65 billion on a fully diluted basis.
Hinge shares opened at $39.25 per share, compared with the offer price of $32, at which Hinge and some shareholders sold 13.67 million shares to raise $437.3 million on Wednesday. However, the valuation of the company is a big step down from the $6.2 billion it achieved in a 2021 funding round. Activity in the U.S. IPO market, which started 2025 on a strong footing compared to the last couple of years, has declined due to geopolitical uncertainty, inflationary pressures and an ever-evolving tariff environment. Ticket reseller StubHub and Swedish fintech firm Klarna recently delayed their public offerings, citing foggy macroeconomic conditions. However, a 90-day pause in extra U.S. tariffs on Chinese imports has helped investor confidence, urging a few companies to test the troubled waters. Israeli trading platform eToro received an overwhelming response in its Nasdaq debut last week, boosting its shares up 34% at open.
(Reporting by Pritam Biswas in Bengaluru; Editing by Shinjini Ganguli)
