Uber to Invest in Pony AI's Upcoming IPO; ServiceTitan Files for IPO with $772M ARR, 24% Growth

Uber is preparing to invest in Pony AI's upcoming U.S. IPO, which is anticipated to be priced next week after the autonomous driving firm upsized its offering. This investment aligns with Uber's strategy to leverage technology from Pony AI, a Chinese autonomous-driving company, for use in the U.S. market. Meanwhile, vertical software company ServiceTitan has filed for an IPO, marking it as the third SaaS company to do so this year. ServiceTitan reported an annual recurring revenue (ARR) of approximately $800 million, with a year-over-year growth rate of 25%. The company is expected to begin trading in the coming weeks, and its performance may serve as a benchmark for other SaaS IPOs in the pipeline. Additionally, Pony AI is also in the spotlight as it faces a potential delay in its IPO debut, which is set to occur during the short Thanksgiving week.