ServiceTitan Plans $502 Million IPO on Nasdaq

ServiceTitan, a Glendale-based software startup specializing in business management solutions for service contractors, is aiming for a valuation of up to $5.16 billion in its upcoming IPO. The company is looking to raise approximately $502 million by offering 8.8 million shares priced between $52 and $57 each. Founded in 2007, ServiceTitan has secured about $1.4 billion from venture capital and serves around 8,000 customers across various trades, processing $62 billion in gross transaction volume in the last year. The IPO is expected to be one of the last major listings of 2024 and could signal a resurgence in the market for venture-backed companies. ServiceTitan plans to list on the Nasdaq under the symbol 'TTAN' and is anticipated to price its shares during the week of December 9, 2024. Its success may encourage other firms to proceed with their own IPOs amidst improving market conditions.