Israeli transport solutions company Via announced today that it has confidentially submitted a draft registration statement on Form S-1 with the US Securities and Exchange Commission (SEC) for a proposed initial public offering (IPO) of its common stock on Wall Street. No details were disclosed about the number of shares to be sold or their price. Last month Via, which was founded by CEO Daniel Ramot and CTO Oren Shoval, raised $130 million at a company valuation of $3.3 billion.
Via operates transport services through an app and smart systems, which calculate routes and pick up and drop off points for passengers on journeys, according to demand, in both large cities and rural areas. Via's app is behind the Bubble service in the Tel Aviv Metropolitan region and TikTak in Jerusalem.
In the past Via has operated services under its own brand but since the outbreak of the Covid pandemic, it has closed these services and focused on providing the technology to manage journeys for transport operators in Israel, the US, Germany and Japan. In March 2020, Via closed its services in London, Amsterdam, and Chicago and this month it closed its services in New York.
Despite these closures, Via's revenue has risen by tens of percentages over the past year to about $100 million. Via also operates school bus services in New York, together with a local bus company and suburban services in Arlington, Texas.
Published by Globes, Israel business news - en.globes.co.il - on December 21, 2021.
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