ServiceTitan has become the first Armenian tech company to list its shares on the Nasdaq stock exchange. During a successful IPO, the company raised over $600 million in investments, with its market capitalization exceeding $10 billion.
According to the company’s press service, on December 12, 2024, ServiceTitan shares began trading on Nasdaq under the ticker TTAN. The company set its initial offering price at $71 per share, raising $624.8 million in investments. The IPO exceeded expectations, as the stock price surged 42% on its first trading day, reaching $101.
ServiceTitan was founded in 2012 in Glendale, California, by Armenian entrepreneurs Ara Mahdessian and Vahe Kuzoyan. Over twelve years, the company has grown into a leading developer of cloud-based solutions for automating business processes in the trades industry, including heating, ventilation, air conditioning (HVAC), plumbing, and electrical services.
