ServiceTitan Files for IPO

ServiceTitan (TTAN) has filed for an initial public offering (IPO). The company describes itself as follows: "We are modernizing a massively underserved service sector often referred to as 'the trades.' The trades encompass all the field service activities necessary to install, maintain, and service the infrastructure and systems of residential and commercial buildings. Craftspeople – such as your local plumber, roofer, landscaper, HVAC technician, and others working in the trades – are highly skilled and extensively trained individuals. They are often unsung heroes who work tirelessly to ensure that our needs are met in the places we live and work, ready to drop everything and rush across town to help others at a moment’s notice. The trades form a large and expanding cornerstone of our economy. There are hundreds of thousands of trade businesses providing essential services in every corner of the country. Based on internal analysis of industry data, we estimate that trade businesses' customers, whom we refer to as 'end customers,' collectively spend approximately $1.5 trillion annually on trade services for homes and businesses in the U.S. and Canada." Goldman Sachs, Morgan Stanley (NYSE:MS), Wells Fargo (NYSE:WFC) Securities, and Citigroup (NYSE:C) will serve as leading underwriters.