TripActions has filed confidential paperwork for an initial public offering next year, according to a report from Business Insider.
The travel, card and expense management company plans to go public in the second quarter of 2023 with a valuation of US$12 billion,?according to the report, which cited an unnamed source. That's up from its reported valuation of $7.25 billion a year ago, when it announced?more than a quarter billion dollars in Series F growthfunding led by Greenoaks.?
TripActions also has been on a busy acquisition path over the past few years, acquiring?high-touch TMC Reed & Mackay?last year and both?Swedish TMC Resia?and?Berlin-based TMC Comtravo?this year.
TripActions did not confirm the IPO report, with a spokesperson providing a statement that the company has "long considered a potential initial public offering as one option to fund the business, but we do not comment on our specific plans or timing."?
Confidential IPOs 每 a strategy also followed by Uber, Lyft and Airbnb 每 allow companies to begin the process without publicly disclosing information until a few weeks out from the actual IPO date.
Bloomberg last month also reported?that TripActions was readying a confidential IPO filing, with Goldman Sachs assisting in the process.