Navan Pushes Ahead With $6.45B IPO Despite Government Shutdown

[johnblockbuster]

Corporate travel firm Navan (formerly TripActions) is moving forward with its IPO despite the ongoing U.S. government shutdown.

Using new SEC rules, Navan filed updated documents that automatically go effective in 20 days, even without staff review. The company aims to sell 30M shares at $24–$26 each, raising up to $960M for a $6.45B valuation.

The filing shows $613M in 12-month revenue (up 32%) but $188M in losses. Backers include Andreessen Horowitz, Lightspeed, and Greenoaks.

While many firms prefer waiting for staff approvals, Navan’s gamble could set a precedent for IPOs during shutdowns.

[Nahid10]

Impressive resilience from Navan. Launching an IPO in such uncertainty shows strong investor confidence.

[EmTeam]

A $6.45B IPO amid a government shutdown is bold — it highlights how demand for innovative companies remains strong.