Via Transportation filed to go public, offering roughly 10.7 million shares priced between $40 and $44, implying a valuation up to $3.5 billion. The offering is being led by Goldman Sachs, Morgan Stanley, Allen & Company, and Wells Fargo Securities. Via was founded in 2012 and partners primarily with local governments and public transit agencies, generating about 90% of its revenue from government partnerships. The company provides operating software, passenger apps, tech-enabled services, and data and operates in major cities and rural areas. Via is not yet profitable. The IPO comes amid renewed investor interest in tech listings such as Klarna, Chime, and Figma.
Via Transportation, a startup that aims to reimagine public transportation, has filed for an initial public offering (IPO), the latest tech-focused company seeking to take advantage of growing investor interest in new listings amid a recent wave of high-dollar exits. The New York-based firm and some of its existing shareholders plan to offer roughly 10.7 million shares, targeting a range between $40 and $44 a piece, Via said on Wednesday. At that price, the company would have a valuation as high as $3.5 billion.
The offering is being led by Goldman Sachs, Morgan Stanley, Allen & Company, and Wells Fargo Securities. It comes as more high-profile tech companies are moving forward with long-awaited IPOs after tariff uncertainty had prompted caution. Just yesterday, by-now, pay-later company Klarna Group said it will seek to raise as much as $1.27 billion in a public offering that it had reportedly put on hold earlier this year.
Founded in 2012, Via partners with local governments and public transit agencies to offer a range of transportation solutions, including operating software, passenger apps, tech-enabled services, and data. The company, which says it makes 90% of its revenue from government partnerships, operates a platform that is available in large cities such as New York and London, along with rural areas in places like Montana. "For too long, public transit services had relied on 40-foot busses following circuitous routs," Daniel Ramot, Via's cofounder and CEO, said in a prospectus filed with the Securities and Exchange Commission (SEC). "We had a new idea. We were going to replace these underutilized buses with dynamically routed shuttles guided by data and powerful algorithms."
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