Group 1 - Navan, a corporate travel and expense management platform, went public on Nasdaq at $25 per share, raising $923 million and achieving a valuation of $6.2 billion [1][4] - The IPO occurred during a government shutdown, which has caused other companies to delay their public listings [2] - Navan benefited from a new SEC exception allowing new listings to take effect without review after setting an IPO price range [3] Group 2 - The company's stock opened below its IPO price at $22 and closed at $20, reflecting investor concerns about profitability [4] - Navan's IPO valuation is lower than its peak valuation of $9.2 billion in 2022, continuing the trend of down round IPOs this year [4] Group 3 - Navan, previously known as TripActions, faced significant challenges since its founding, including a revenue drop to nearly zero during the COVID-19 pandemic [5][6] - The company managed to recover and filed for an IPO in 2023, after a two-year wait for investors [6] Group 4 - Major investors in Navan include Lightspeed Venture Partners, Zeev Ventures, Andreessen Horowitz, and Greenoaks Capital, with significant stakes post-IPO [11][13][19][24] - Lightspeed owns about 20% of Navan, with a stake valued at approximately $1 billion at the $20 share price [12] - Zeev Ventures holds about 15% of the company, with a remaining stake worth around $747 million [16] - Andreessen Horowitz owns about 10% of Navan, valued at approximately $508 million at the current share price [20] - Greenoaks Capital has a stake of about 5.8%, worth around $286 million [25] Group 5 - Co-founders Ilan Twig and Ariel Cohen hold significant shares, with Twig owning about 5.1% and Cohen about 3.7% of the company [29][35] - Both co-founders sold shares during the IPO, netting substantial amounts, while retaining significant stakes valued at $255 million and $185 million, respectively, at the current share price [30][36] Group 6 - Other notable shareholders include Premji Invest, Group 11, and H. Barton Asset Management, with stakes valued at $171 million, $122 million, and $60 million, respectively, at the current share price [43][49][53]

Group 1 - Navan, a travel-tech firm based in Silicon Valley, has launched its initial public offering (IPO) [1] - The IPO was priced at $25 per share, allowing the company to raise approximately $923 million [1]

Core Insights - Navan Inc., a business travel and expense management software company based in Palo Alto, experienced a significant decline in its stock price following its public debut amid the ongoing US government shutdown [1] Company Summary - The company specializes in business travel and expense management solutions, which are critical for organizations looking to streamline their travel operations and manage expenses effectively [1] - The timing of the public offering coincided with a government shutdown, which may have contributed to the negative market reaction and subsequent drop in share price [1]

Core Viewpoint - Navan, a corporate travel and expense management platform, debuted on the US stock market with its share price declining over 15% from its IPO price of $25 to $21.1 [1] Company Overview - Navan was founded in 2015 by Ariel Cohen and Ilan Twig, initially named TripActions, with a focus on revolutionizing traditional travel services [1] - The company has expanded its services beyond corporate travel management to include corporate payments and expense management [1] Clientele - Navan serves a global clientele that includes notable companies such as Zoom Communications and Lyft [1]

Core Viewpoint - Navan, a corporate travel and expense management platform, debuted on the US stock market with its stock price declining over 15% from its IPO price of $25 to $21.1 [1] Company Overview - Navan was founded in 2015 by Ariel Cohen and Ilan Twig, initially named TripActions [1] - The company's core business focuses on corporate travel management, aiming to innovate traditional travel service models previously dominated by companies like American Express and SAP Concur [1] - Over the years, Navan has expanded its services to include corporate payments and expense management [1] Clientele - Navan serves a global client base that includes notable companies such as Zoom Communications and Lyft [1]

The corporate travel and expense software developer Navon is going public on the NASDAQ later this morning under the ticker symbol NAVN. That IPO priced at $25 a share, raising about $925 million, and that would give Nan a valuation of roughly $6.2% billion. Joining us right now is Non CEO and co-founder Ariel Cohen.We should also mention that Nan has been named on CNBC's Disruptor 50 list the last two years in a row. And welcome, Ariel, um, on your big day. Yeah, thank you for having me here.>> You're look ...

Navan is set to make its Nasdaq debut later on Thursday, after the travel technology company raised $923 million in its listing and successfully navigated a U.S. government shutdown to go public. ...

Navan由Ariel Cohen与Ilan Twig于2015年创立，最初名为TripActions，核心业务为企业差旅管理。其成 立初衷是为了革新传统差旅服务模式——这类服务此前主要由美国运通(AXP.US)、SAP Concur等公司 提供。 今年早些时候，受关税影响，旅游需求曾出现下滑;目前这一需求已逐步回升。多家大型航空公司高管 均对今年下半年行业提升票价的能力表达了乐观态度。 据Navan官网信息，多年来该公司已将业务拓展至企业支付与费用管理领域，服务的全球客户包括Zoom 通讯(ZM.US)和Lyft(LYFT.US)等。 Navan将于周四在纳斯达克全球市场挂牌交易，股票代码为NAVN。此次IPO的承销商包括高盛、花旗、 Jefferies、瑞穗以及摩根士丹利等机构。 智通财经APP获悉，企业差旅与费用管理平台Navan(NAVN.US)于周三确定其首次公开募股(IPO)发行价 为每股25美元，处于24至26美元的原定招股区间范围内。此次发行募资约9.231亿美元，进一步巩固了 新股发行市场的强劲势头。 这家总部位于美国加利福尼亚州帕洛阿尔托的公司，通过发行3000万股新股募资7.5亿美元;现 ...

Core Insights - Navan, a corporate travel and expense company, priced its initial public offering (IPO) at $25 per share, which is within the marketed range of $24 to $26 per share [1] - The IPO raised approximately $923.1 million, indicating strong investor interest and confidence in the company's market position [1] Company Summary - Navan's IPO pricing reflects a successful entry into the public market, aligning with its anticipated valuation range [1] - The capital raised from the IPO will likely be utilized for further expansion and development of its services in the corporate travel sector [1] Industry Context - The corporate travel and expense management industry is experiencing a resurgence as businesses increasingly prioritize travel efficiency and cost management [1] - Navan's successful IPO may signal a positive trend for other companies in the corporate travel sector, potentially leading to more public offerings in the near future [1]

Core Viewpoint - Navan, Inc. has announced the pricing of its initial public offering (IPO) at $25.00 per share, indicating a significant step in its growth strategy as a business travel and expense management platform [1] Company Summary - The IPO consists of a total of 36,924,406 shares of Class A common stock, with 30,000,000 shares being sold by Navan and 6,924,406 shares sold by existing stockholders [1] - Navan will not receive any proceeds from the shares sold by existing stockholders, which may impact its capital structure and future funding strategies [1]