Jun 8, 2021 - Economy

Biometric identity company Clear Secure files for IPO

Illustration of an $100 bill looking out of an airplane window.

Illustration: Shoshana Gordon/Axios

Clear Secure, the New York-based biometric identity company known for its airport security lines, filed for an IPO.

Why it matters: This reflects the post-pandemic travel boom, even if business travel isn't expected to fully recover for years.

Details: Clear plans to list on the NYSE (YOU) and reports a $9.3 million net loss on $231 million in revenue for 2020. Shareholders include T. Rowe Price, General Atlantic, Delta Air Lines and Durable Capital Partners.

The bottom line: This is the latest chapter in a very long comeback story for Clear, which was launched in the aughts and went bankrupt before its current owners bought the assets in 2010 for just $6 million.

Go deeper: Summer travel is forecast to be stressful

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