The big manoeuvres continue in the business travel ecosystem. And Amex GBT does not have a monopoly on announcements. As expected over the last few months, Navan made it official this week that it would become a listed company: " Today, Navan is officially listed on the Nasdaq under the name $NAVN. "said the business travel specialist.
"A new era in T&E"
Navan has reportedly set its IPO price at $25 per share. This should enable it to raise some 900 million dollars.
With this operation, what was not so long ago a start-up known as TripActions is changing its status once and for all. Ten years will have been enough for Navan to establish itself as a key player in the business travel market. According to Navan's management, this flotation marks "a new era" in this market.
"We're just getting started," warn Navan co-founders Ariel Cohen and Ilan Twig. They continue: "Business needs change, technology evolves, and we will evolve with it, surprising users with new features and anticipating future obstacles before they arise. We've only reached this stage today thanks to the collective effort of thousands of brilliant people. Together, we're not just making history; we're shaping the future.
Zahir Abdelouhab, Navan's SVP EMEA (on the left in the photo) meanwhile described "A collective moment of pride, gratitude and joy for everything we've built together. This milestone is both a great achievement and the start of a long journey" Zahir Abdelouhab adds.
