Via shrugs off tepid open to end first day of trading slightly above IPO price

Core Viewpoint - Investors exhibited caution towards Via's IPO, with shares initially opening below the IPO price but recovering slightly by the end of the trading day [1] Group 1: IPO Details - Via priced its IPO at $46 per share, raising a total of $492.9 million, with shares slipping to $44 before closing at just over $49, valuing the company at approximately $3.9 billion [2] - The total deal size for Via's IPO included $328 million raised by the company and $164 million from existing shareholders [3] Group 2: Company Background and Strategy - Via, founded in 2012, has developed a core business around its on-demand routing algorithm, which is utilized by 689 cities and transit agencies for microtransit services [3] - The company plans to use IPO proceeds for growth, sales, marketing, and potential acquisitions, having previously acquired Remix and Citymapper [4] Group 3: Financial Performance - Via's revenue has increased by approximately 30% year-over-year, with expectations to reach around $429 million in revenue for 2025 [5] - In the first half of 2025, Via reported $205.7 million in revenue but incurred a loss of $37.5 million, which is an improvement from a loss of $50.4 million in the same period the previous year [5] - The company is nearing profitability, indicating that government customers can support a sustainable business model [6]