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Via shrugs off tepid open to end first day of trading slightly above IPO price
Transit tech software startup Via had its IPO debut on Friday, starting at below offering price before rising to close at nearly $50.
“We’re extremely pleased with the result of today’s IPO, and we think it is a testament to the value and durability of the company,” Via CEO Damiel Ramot said. “Most tech companies going public are not very focused on this sector, on helping local government,” he said, adding that the technology Via provides mainly benefits riders of microtransit and paratransit systems, the people who rely on buses to get around. Rebecca Bellan is a senior reporter at TechCrunch where she covers the business, policy, and emerging trends shaping artificial intelligence.
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