ServiceTitan seeks up to $5.16 bln valuation in US IPO (updated)

ServiceTitan

03/12/2024 11:22

(Rewrites throughout)
       Dec 3 (Reuters) - Software startup ServiceTitan said on
Tuesday it was seeking a valuation of as much as $5.16 billion
in its initial public offering in the United States.
    The Glendale, California-based company said it plans to
raise up to $502 million by offering 8.8 million shares priced
between $52 and $57 each.
    ServiceTitan will join a handful of venture capital-backed
firms, including social media platform Reddit  RDDT.N  and
cybersecurity software firm Rubrik  RBRK.N , that have gone
public this year.
    Goldman Sachs, Morgan Stanley, Wells Fargo and Citigroup are
leading a 14-firm underwriting syndicate.
    ServiceTitan will list on the Nasdaq under the symbol
"TTAN."

 (Reporting by Arasu Kannagi Basil and Jaiveer Shekhawat in
Bengaluru; Editing by Anil D'Silva and Saumyadeb Chakrabarty)
 ((ArasuKannagi.Basil@thomsonreuters.com;))