Via Transportation IPO: Stock listing date nears for transit tech startup

Via Transportation, a startup that aims to reimagine public transportation, has filed for an initial public offering (IPO), the latest tech-focused company seeking to take advantage of growing investor interest in new listings amid a recent wave of high-dollar exits.

The New York-based firm and some of its existing shareholders plan to offer roughly 10.7 million shares, targeting a range between $40 and $44 a piece, Via said on Wednesday. At that price, the company would have a valuation as high as $3.5 billion.

The offering is being led by Goldman Sachs, Morgan Stanley, Allen & Company, and Wells Fargo Securities. It comes as more high-profile tech companies are moving forward with long-awaited IPOs after tariff uncertainty had prompted caution.

Just yesterday, by-now, pay-later company Klarna Group said it will seek to raise as much as $1.27 billion in a public offering that it had reportedly put on hold earlier this year.

Successful listings from tech companies ranging from Chime Financial to Figma appear to have eased worries about how the macro environment might impact the broader IPO market.

What does Via Transportation do?

Founded in 2012, Via partners with local governments and public transit agencies to offer a range of transportation solutions, including operating software, passenger apps, tech-enabled services, and data.

The company, which says it makes 90% of its revenue from government partnerships, operates a platform that is available in large cities such as New York and London, along with rural areas in places like Montana.

“For too long, public transit services had relied on 40-foot busses following circuitous routs,” Daniel Ramot, Via’s cofounder and CEO, said in a prospectus filed with the Securities and Exchange Commission (SEC). “We had a new idea. We were going to replace these underutilized buses with dynamically routed shuttles guided by data and powerful algorithms.”

Is Via profitable?

Not yet, but its losses are narrowing. In its SEC filing, the company reported a net loss of $90.6 million in 2024, compared to a net loss of $117 million the year before. It warned in the filing that it may never maintain or even achieve profitability.

That’s not uncommon for a rapidly growing startup. Via said its revenue ballooned from $100 million to $337.6 million between 2021 and 2024.

Via Technologies plans to list its shares on the New York Stock Exchange (NYSE) under the ticker symbol Via. It has not announced a listing date but said on Wednesday that it has begun the launch of its “roadshow.”