Ariel Cohen

growth-positive

Navan, formerly known as Tripactions, is preparing for an IPO with a target valuation of up to $6.45 billion. The company plans to offer 36.9 million shares priced between $24 and $26, aiming to raise $960 million. This valuation is a decrease from its previous $9 billion valuation in 2022. Navan, founded by Ariel Cohen and Ilan Twig, has expanded its services from business travel management to include payments and enterprise expenses. The IPO is being led by major financial institutions including Goldman Sachs, Jefferies, and Morgan Stanley. The company employs hundreds of people globally, with significant operations in Israel.