ServiceTitan aims for $5.95 billion IPO valuation

ServiceTitan, a software startup, has adjusted its initial public offering (IPO) strategy in the United States by increasing its share price range, indicating an aim for a valuation of $5.95 billion.

The company announced on Tuesday that it plans to maintain the number of shares offered at 8.8 million while boosting the price range to $65 to $67 per share.

This revision could potentially raise up to $589.6 million for ServiceTitan, surpassing the previous estimate of $502 million that would have been raised under the initial price range.

The Glendale, California-based firm is set to join the ranks of venture capital-backed companies like the social media platform Reddit and cybersecurity software firm Rubrik, which have already made their public debuts this year.

ServiceTitan is slated to list on the Nasdaq stock market using the ticker symbol "TTAN." The IPO is being supported by a group of underwriters, with Goldman Sachs, Morgan Stanley (NYSE:MS ), Wells Fargo (NYSE:WFC ), and Citigroup (NYSE:C ) leading a syndicate of 14 firms.

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Source: Investing.com