ServiceTitan is now a public company

The trades have landed — on Wall Street. ServiceTitan made its public debut, ending the day as a $9 billion company. 

Why it matters: “It’s an important day for our company, but more importantly, it’s a historic day for the industries that we serve,” said Ara Mahdessian, CEO, in a TV interview. 

What’s happening: After more than a decade as a private company, ServiceTitan last month filed for an IPO, initially pricing shares between $52 and $57. Full breakdown

• Yesterday, it revised that price to $71. 
• And then around lunchtime today, it began trading at $101 — a 42 percent jump, validating the public’s optimism about both the company and the industries it serves. 

The big picture: HVAC and plumbing have seen the limelight this year. 

• Since April, the Wall Street Journal has published three stories about the trades that have gone viral: One exploring Gen Z’s interest, another highlighting the industries’ popularity on TikTok, and the third covering the influx of private equity dollars.
• ServiceTitan’s debut caps the year, further cementing the trades into mainstream (and the investor community’s) consciousness. 

What’s next: The company raised about $625 million in the offering, and its first earnings call is expected sometime in January or February.