Navan Seeks $6.45 Billion IPO Valuation — a 30% Haircut From 2022

Navan, the corporate travel and expense management company, is seeking a valuation of up to $6.45 billion in its IPO, according to an amended registration statement — and that would be 30% lower than its $9.2 billion private valuation at its most recent fundraise in 2022.

The Palo Alto-based travel management company plans to raise as much as $960 million by offering 36.9 million shares priced between $24 and $26 each on the Nasdaq under the ticker symbol NAVN.

The potential IPO marks a pivotal moment for Navan, formerly known as TripActions, and comes amid renewed investor interest in public debuts after a subdued two-year stretch.

Navan was valued at $9.2 billion in its last private funding round in 202