Via, the transit software startup, which attracted attention for its on-demand shuttle service for consumers, said it had filed confidentiality for its initial public offering.
Via has been able to put forward plans for IPOs for years. The company confidentially filed its IPO in 2021, but never took the following official and regulatory measures to enter the open market. Now the company says it’s ready. However, the status as a confidential filing leaves behind many missing details, such as the number of shares offered and the price range of the proposed offering.
When it was launched in 2012, there was little interest from the city of software platforms, co-founder and CEO Daniel Lamott told TechCrunch in an interview a few years ago. The company initially used a consumer shuttle via a brand of shuttles that users could praise. Over time, we use the vast amount of data we collect through these services to improve its dynamic on-demand routing algorithms and use real-time data to route shuttles where they are most needed.
Today, Via offers on-demand transit software for over 650 cities in 30 countries, including San Francisco, Seattle, New York, Miami and London. It also serves many small and medium-sized cities, including Arlington, Texas and Sioux Falls, South Dakota.
It raised its final funding from the private market in 2023, pushing its valuation to $3.5 billion in a $110 million funding round. Via has raised a total of $1 billion so far from a long list of investors including BlackRock, Exor, Janus Henderson, Macquarie Capital, Mori Building, Shell and 83north.
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