ServiceTitan pops to $101 in cloud software vendor's Nasdaq debut after selling shares at $71

ServiceTitan’s shares surged by 42% in their Nasdaq debut after raising $625 million in their IPO, with a market cap of $6.3 billion and an opening stock price of $101. The company is the first major tech IPO since late 2021, signaling a growing appetite for tech investments, despite challenges like rising interest rates. ServiceTitan, founded in 2007 by Vahe Kuzoyan and Ara Mahdessian, provides cloud software for contractors and had a net loss of $47 million on $198.5 million in revenue in the October quarter, showing strong growth but widening losses.

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