The indications offer a whopping jump in the share price. Ira, how do you feel on this day?

We're very excited for this day. It's an important day for our company. But more importantly, this is a historic day for the incredible industry that we serve.

We think of this as the National Day of the Trades, and we celebrate and honor all the hard work and dedication of the contractors who work so tirelessly to serve their communities.

But, hey, I mean, this is a personal story. Both of your fathers were immigrants who came to the United States as contractors, as plumbers, solving problems for their clients. How differentiated is your offering from a technology perspective?

Well, we like to think that we provide a "business in a box" that provides an end-to-end solution; it gives you everything you need to run a successful trades business. Growing up, we saw the struggles our parents faced running the back office, with shoeboxes full of receipts.

We knew we had to do something. And so that's our big differentiation: it's an all-in-one, all-under-one-roof solution for this industry. We can see the team based behind you. You're serving 100,000+ contractors.

What we're focused on is what we can control. Most importantly, that's taking care of our customers and delivering success for them. That also drives our own financial success. This is our life's work.

We've spent over a decade building this business. We think about this business for years and decades to come, and we're excited for this next chapter where we partner with long-term investors who want to support that journey with us.

But what is in your control is the company. You remain the majority shareholder from a voting perspective with Class B shares. So, how will you allocate this raised capital? Where will you expand the business?

Our mission is to build the operating system for the trades, and that's our number one priority. The capital we're raising will primarily be used to continue evolving the product and ensure this industry isn't left behind

from a technology perspective, like our parents' generation was when we were growing up. Ara, can you explain the technological innovations in your future plans? How will this innovate? Will it involve bringing on new talent? Integrating generative AI?

Where does the product go from here? It's interesting you mentioned AI. It's ironic that such a blue-collar industry has such big applications for AI. And this isn't hype; it's already a reality. Service time already offers three AI...

based products for things like optimizing how contractors do marketing, optimizing and automating how they do scheduling and dispatching, and ultimately also improving the level of service that they provide their end customers.  Our customers, the contractors, are already adopting and

utilizing them. A team is having fun behind you. It's good to see.  You mentioned these long-term investors; you're now going to have institutional investors come on board, but a lot of people keep the overall exposure.

What happens with iconic growth? What happens with some of the Bessemer Ventures and TPG's? Do you think that this is them exiting more fully? How do you see your investor base changing? Yeah, I mean, you have to ask them.

As far as we're concerned, we're focused on the mission and bringing on a new family of long-term shareholders that we hope to deliver a similar level of success to as we did our original batch that believed in us. We take the trust very seriously and we intend to be great stewards of their

capital as we deploy it to create more opportunities for our customers. All right. I'm going to go in a slightly different direction here. But you are the child of immigrant parents. You're thinking about servicing the contractors out there in the United

States. What will your client base look like in the next administration in 2025? You know, our customers have thankfully thrived through all kinds of macroeconomic situations, through all kinds of administrations. And it's simply because the work that

What they do is so critical. It's so essential when your air conditioning isn't working in a scorching summer heat wave, or your heater goes out in the dead of winter, or your plumbing breaks down right before your Thanksgiving family gathering; you have to get that fixed immediately.

And our customers are those unsung heroes that often fly across town, sometimes in the middle of the night, to take care of the communities that they serve. Who's been serving you in this IPO of Goldman Sachs, Morgan Stanley, Wells Fargo, Citigroup—ten other banks have been working on the deal.

I ask a tough question, Vijay, but if your shares do pop by one point—indicated more than 100% higher—do you think they've done a good job or a bad job?

We've been incredibly grateful to the partners that we've had throughout this process. As you know, this is our first time doing this. And so having people that we trust around the table, shepherding us through the process, has been really great. And for us, it doesn't really matter

where the price ends today. We're focused on the long term, and what we really care about is building a generational business. At the moment, the business is loss-making. So, is that going to change by 2025? We're grateful to be cash flow positive and have been cash flow

positive for the several past quarters. And that puts us in control of our destiny, and that's what allows us to continue to invest in the success of our customers, which is what's ultimately going to drive our own success. The same thing that has gotten us to this point is the same thing that is going to

get us towards this mission of building the operating system for the trades.

ServiceTitan Makes a Splash in Wall Street Debut

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Bloomberg Technology

Significant share price jump upon IPO announcement.

Company expresses excitement, highlighting the importance of the day for the company and the trades industry.

Company celebrates the work and dedication of contractors.

Company founders' personal connection to the trades industry, with both fathers being contractors.

Company's unique selling proposition: an all-in-one solution for trades businesses.

Focus on customer success and long-term business growth.

Company remains majority shareholder post-IPO.

Raised capital will be used to improve the product and prevent the industry from lagging behind technologically.

Mission to build the operating system for the trades industry.

Future plans include technological innovations, potentially involving AI and new talent.

Discussion about the changing investor base and the company's focus on long-term growth.

Company's commitment to its original investors and new long-term shareholders.

Discussion about the company's client base and its resilience through various macroeconomic conditions.

Essential nature of the services provided by the company's clients.

Acknowledgement of the banks involved in the IPO process.

Company's focus on long-term growth rather than short-term price fluctuations.

Company's current cash flow positive status and plans for future investments.

ServiceTitan Makes a Splash in Wall Street Debut

ServiceTitan Makes a Splash in Wall Street Debut

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