ServiceTitan IPO Precursor
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•ServiceTitan could be the first of many 'dirty' term-sheet IPOs, VCs believe | TechCrunch
72% Informative
ServiceTitan filed documents last week for its IPO , hoping to have its debut before the end of 2024 .
The tech firm agreed to grant Series H investors a “compounding IPO ratchet structure’s” term, disclosed in its S-1 documents.
The term means that if a company goes public at a stock price that is less than what the investor paid, the company will cover the loss by granting the investor more shares.
ServiceTitan IPO seems to be about incentives, says Clayton Clayton .
2022 saw a lot of founders struggling to maintain their previously high valuations.
Clayton believes we’ll likely see more such things buried in S-1 disclosures.
But some financiers remain doubtful.
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