Via Shares Close Slightly Above IPO Price in First day of trading
NEW YORK – Via Transportation,a leading provider of on-demand transit technology,concluded its first day of trading as a public company with shares closing slightly above its initial public offering (IPO) price. The companyS debut on the Nasdaq comes after raising $100 million through its IPO, a move CEO Damiel Ramot says will bolster growth, sales, and marketing efforts, and potentially fund future acquisitions.
Via initially launched in 2012 by operating Via-branded shuttles,but has since pivoted to focus on its core business: a real-time routing algorithm that powers microtransit solutions for cities and transit agencies. The company’s technology is currently utilized by 689 cities and transit agencies globally. Ramot emphasized the successful IPO reflects “the durability of the company,” adding, “We are grateful for the feedback and support from our team, partners, and investors who made this milestone possible.”
The company intends to leverage the funds raised not for immediate operational needs, but for strategic expansion. Ramot indicated a willingness to explore acquisitions similar to those of Remix, a bus planning company acquired in 2021 for $100 million, and CityMapper, a journey planning app purchased in 2023. He clarified that future acquisitions would focus on complementary technologies rather than market share gains.
Via’s financial performance demonstrates meaningful growth, with revenue increasing approximately 30% year-over-year. The company projects $429 million in revenue for 2025, based on its current quarterly performance. In the first six months of 2025,Via generated $205.7 million in revenue, while simultaneously reducing its losses to $37.5 million, down from $50.4 million during the same period last year.
while still operating at a loss, Ramot stated Via is nearing profitability, though he declined to provide specific projections.He highlighted the company’s success as evidence that serving government customers can be a sustainable and lucrative business model, especially in supporting riders of microtransit and paratransit systems.
“Low income people, people with disabilities, students - those are the demographics that we typically support,” Ramot saeid. “It’s really nice to see investors actually support that.”