Reuters: IPOX® CEO Josef Schuster on ServiceTitan’s IPO
Josef Schuster, founder and CEO of IPOX Schuster LLC, was recently featured in Reuters, offering his perspective on the upcoming IPO of ServiceTitan, which aims for a valuation of up to $5.16 billion. The Glendale, California-based software company is preparing one of the final major public offerings of 2024, potentially setting the stage for a resurgence in VC-backed IPOs.
Commenting on the market environment, Schuster noted:
"Excellent U.S. stock market conditions and very good earnings of IPOs overall during the previous reporting season make it a favorable environment for companies to go public."
ServiceTitan's listing reflects the improving sentiment in the IPO market, following a period of subdued activity due to market volatility and rising interest rates. As one of the largest IPOs in recent months, it could signal renewed confidence for venture capital-backed firms contemplating public offerings.
Schuster’s remarks align with a broader industry view that robust stock market performance and investor appetite for high-growth companies provide a favorable backdrop for listings like ServiceTitan’s.
The company, which develops software for businesses in the HVAC and related sectors, plans to raise up to $502 million by offering 8.8 million shares at a price range of $52 to $57. ServiceTitan will trade on the Nasdaq under the symbol "TTAN."
Read the full article on Reuters:
https://www.reuters.com/technology/servicetitan-seeks-up-516-bln-valuation-us-ipo-2024-12-03/
