ServiceTitan Shares Surge 40% in Nasdaq Debut

ServiceTitan Shares Surge 40% in Nasdaq Debut

ServiceTitan (TTAN) shares soared on their first day of trading, reflecting strong investor demand for the company’s initial public offering (IPO).

The stock climbed 42% intraday on Thursday, reaching $100.87. This impressive performance followed the company’s IPO pricing, which exceeded expectations at $71 per share, higher than the initial range of $65 to $67. The offering raised $625 million, valuing ServiceTitan at $6.3 billion. Should shares close near $101, the company’s market capitalization would rise to approximately $9 billion.

Founded in 2012 by CEO Ara Mahdessian and President Vahe Kuzoyan, ServiceTitan provides software solutions tailored to trade businesses. The co-founders created the platform to assist their immigrant parents in managing their businesses. Today, ServiceTitan serves about 8,000 active customers.

Despite its rapid growth, the company reported a net loss of $183 million on $685 million in revenue for the 12 months ending July 31. However, its strong IPO debut underscores the market’s confidence in its long-term potential.