By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
CryptoCommunityCryptoCommunity
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Search
  • BTC
  • ETH
  • USDT
  • USDC
  • BNB
  • BUSD
  • ADA
  • XRP
  • SOL
  • DOGE
  • DOT
  • MATIC
Reading: Oh look, TripActions raised at a $9.2B valuation after reported $12B IPO filing
Share
Aa
CryptoCommunityCryptoCommunity
Aa
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Search
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
CryptoCommunity > Blog > General > Oh look, TripActions raised at a $9.2B valuation after reported $12B IPO filing
General

Oh look, TripActions raised at a $9.2B valuation after reported $12B IPO filing

admin Published October 12, 2022
Last updated: 2022/10/12 at 10:23 PM
Share
SHARE

[ad_1]

TripActions, a corporate travel and expenses company, has raised a combination of equity and debt at a post-money valuation of $9.2 billion, up from its prior valuation of $7.5 billion. The funding is a $154 million equity round from investors including returning investors Andreessen Horowitz and Premji Invest, and a $150 million structured financing deal from Coatue.

The deal comes weeks after the Palo Alto-based company was said to have filed confidentially to go public in the second quarter of next year at a $12 billion valuation. Totaling $304 million, the Series G financing has been in the works since at least May, confirming earlier Bloomberg reports that the travel company was seeking financing at a higher valuation.

Other investors in the company include Base Partners, Elad Gil, Greenoaks Capital Management, Zeev Ventures, Lightspeed Ventures and Addition Ventures. As part of the transaction, Premji Invest’s Sandesh Patnam will join TripActions board of directors. Coatue Ventures’ Dan Rose will join as a board observer.

In a release announcing the deal, TripActions noted that the funding will be used for global expansion, building off of its expense management launch in Europe and new offices in Portugal, Germany, France and the UK. The company also acquired a number of travel management businesses, adding to its now more than 2,500 employees.

Why the deal now, ahead of a looming IPO? TripActions didn’t comment on any public listing plans, but its not unique to see a company raise ahead of a financial event of that scale. IPOs take a long time, and are expensive; so TripActions could be bringing on strategic investors to help guide the process, or just land cash to give it buffer room in case its timeline change due to market volatility.

As we know from this past year, big valuations and lots of cash don’t mean much as a signal of business stability. That said, travel startups had it especially hard in the beginning of the pandemic, and a recovery shown through investor capital is clearly worth noting. The company expanded its business travel platform by bringing on fintech and expenses into the mix, a diversified yet competitive world to dig into.

TripActions didn’t share any specific financials, but stated in the release that its expense management platform had more than a 7.5X spend volume growth last quarter, and that gross bookings for business travel are up more than 5X year over year.

TechCrunch reached out to TripActions for more information regarding the raise and IPO, as well as expansion plans, but has not yet heard back as of time of publication.

[ad_2]

You Might Also Like

Revyze is building the TikTok of educational videos

YouTube ends the test asking users to get a premium subscription to watch 4K videos

Who is going to buy Cadillac’s $300,000 hand-built EV?

Don’t let today’s software rally improve your mood

Daily Crunch: Kanye West reaches agreement to acquire social media platform Parler

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
[mc4wp_form]
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
admin October 12, 2022
Share this Article
Facebook TwitterEmail Print
Share
Previous Article Microsoft launches new security services aimed at protecting code in the cloud
Next Article Why These Experts Believe The Ethereum Price Could Soar to $5K

Latest News

earn bitcoins fast
How to earn bitcoins fast
crypto
Cryptocurrency is a Scam or Not
How to Tell If a Cryptocurrency is a Scam or Not
crypto
Losing In Cryptocurrency Trading
Tips to Avoid Losing In Cryptocurrency Trading
crypto
Sell Products Online with Bitcoins
How to Sell Products Online with Bitcoins – The Ultimate Guide
crypto

You Might also Like

Revyze is building the TikTok of educational videos

6 Min Read

YouTube ends the test asking users to get a premium subscription to watch 4K videos

2 Min Read

Who is going to buy Cadillac’s $300,000 hand-built EV?

4 Min Read

Don’t let today’s software rally improve your mood

1 Min Read

Crypto Community

  • Home
  • Crypto Calculator
  • Blog
  • Contact Us
  • Privacy Policy
  • Disclaimer
  • Terms and Conditions

Real time Cryptocurrency

  • Crypto Prices
  • Dogecoin price
  • Shibainu coin price
  • Bitcoin Price
  • Cardano Price
  • Litecoins Price

Cryptocurrency Price USD

  • Bitcoin price USD
  • Ethereum price USD
  • Tether price USD
  • BNB Price USD
  • Cardano Price USD
  • Solana Price USD
  • Peps coin Price USD
  • floki inu Price USD
  • SIA coin Price USD
CryptoCommunityCryptoCommunity
Follow US

© 2022 Cryptos Community All Rights Reserved. All logos and images used on this website are registered trademarks of their respective companies. All Rights Reserved. Cryptos Community is not liable for inaccuracies, errors, or omissions found herein. For the removal of copyrighted images, trademarks, or other issues, Contact Us. 


Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?