Navan plows ahead with IPO during shutdown, aims for $6.45B valuation

Last year’s investor dreams of a strong 2024 IPO pipeline have faded, if not fully disappeared, as we settle in to the second half of the year. This year delivered four venture-backed tech IPOs — Reddit, Astera Labs, Ibotta and Rubrik — in March and April, which made it seem like this year could spur the momentum investors had hoped for in 2023. But secondary investors and IPO lawyers recently told TechCrunch that despite these four successes, macro conditions like the upcoming presidential ele

Aug 7, 2024

MobiKwik, an Indian financial services startup, has cut the size of its planned IPO for the third time, setting a price band of ₹265-₹279 ($3.1-$3.3) that values it at $250 million — down sharply from its last private valuation of $924 million in 2021. The Gurugram-based fintech, backed by Peak XV and ADIA, is seeking to raise about $69 million in the IPO, well below the $255 million it initially targeted back in 2021. The IPO opens on December 11, and the stock will start trading on December 1

Dec 5, 2024

Navan, an expense management startup once known as TripActions, has laid off 5% of its staff, or 145 people, a spokesperson confirmed to TechCrunch today. The Information first broke the news. “Navan has recorded strong growth over the past three years despite the challenges affecting our industry,” the spokesperson wrote via email, describing the cuts […]

Dec 5, 2023

Pony AI, the Chinese autonomous vehicle startup that’s looking to go public on the Nasdaq stock exchange, now wants to raise around $260 million, according to a new regulatory filing. That’s up from its previous target of around $224 million. To meet the goal, Pony will sell as many as 20 million American depository shares. That’s still down from the much higher target of $425 million, which Pony was aiming for earlier this year before its board approved a reduction of its minimum valuation fro

Nov 20, 2024