"We're extremely pleased with the result of today's IPO, and we think it is a testament to the value and durability of the company,"
"We are grateful for the feedback and support from our team, partners, and investors who made this milestone possible."
"We're not necessarily looking to raise funds to drive operations,"
"There may be an opportunity for us to use the proceeds and the currency of a public stock to make some interesting acquisitions like we did with Remix and CityMapper."
Via priced its IPO at $46 per share and raised $492.9 million, with shares dipping to $44 at open then finishing just over $49. The closing price implied a valuation of roughly $3.9 billion. The IPO proceeds included about $328 million raised by the company and $164 million sold by existing shareholders, totaling nearly $493 million. Via launched in 2012 as a shuttle service and shifted to selling its on-demand routing algorithm as core software to 689 cities and transit agencies. The company plans to invest proceeds in growth, sales, marketing, and potential complementary acquisitions. Revenue has increased roughly 30%.
Read at TechCrunch
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