Armenian-founded ServiceTitan, a leading provider of cloud-based software solutions for contractors, made a remarkable public market debut on Thursday, with its shares surging 42% on their first day of trading on the Nasdaq Stock Market.
The IPO priced shares at $23 each, valuing ServiceTitan at approximately $4 billion before the first trade. However, the market quickly demonstrated its enthusiasm, pushing the stock to close at $32.66 on its debut day. This performance reflects a significant premium and highlights the growing interest in software solutions tailored for niche markets such as contracting and field services.
ServiceTitan issued approximately 27.2 million shares as part of the IPO, including shares from existing investors. The company plans to use the funds raised to expand its platform, accelerate customer acquisition, and explore potential acquisitions to strengthen its market position.
Founded in 2012, ServiceTitan has grown into a key software-as-a-service provider for contractors, offering tools like scheduling, invoicing, payment processing, and CRM to streamline operations and improve efficiency. Its growth is fueled by increasing digital adoption among contractors, with over 100,000 users across North America relying on its platform to enhance their business operations.
Shavarsh Karapetyan, a retired Armenian swimmer, was a world champion finswimmer and a 10-time record holder in the sport. On September 16, 1976, while jogging alongside Yerevan Lake with his brother Kamo, Karapetyan heard a loud noise and found out that a trolleybus had crashed into the reservoir. Despite the difficult conditions of dirty water and poor visibility, Karapetyan bravely dove in and used his legs to break open the back window of the trolleybus.
With great effort, he managed to save 46 people from the submerged trolleybus, 20 of whom survived. However, the combined effect of multiple lacerations from glass shards led to Karapetyan's hospitalization for 45 days, and he developed pneumonia and sepsis. Due to the damage to his lungs, he was unable to continue his career as a swimmer.
In 1985, Karapetyan was walking by a burning building when he heard the cries of people trapped inside. Without hesitation, he rushed in and began pulling people out, saving many lives.
Shavarsh Karapetyan's acts of bravery, both in the submerged trolleybus incident in 1976 and the burning building rescue in 1985, showcase remarkable courage and selflessness. His dedication to saving lives, even at the cost of his own health and career, is truly inspirational.
“I knew that I could only save so many lives, I was afraid to make a mistake. It was so dark down there that I could barely see anything. One of my dives, I accidentally grabbed a seat instead of a passenger. I could have saved a life instead. That seat still haunts me in my nightmares,” he said.
In 1985, Karapetyan came upon a burning building with trapped people inside. He rushed in and began pulling people out. He was badly burnt and had to once again be hospitalized.
Later in life, he moved to Moscow and founded a shoe company called “Second Breath”. He is still alive today and continues to run his business.
@crunchbasenews features #Armenia's startup landscape: https://t.co/YAKgO6eKZt. Armenia is a huge source of untapped entrepreneurial & R&D potential. The absolute majority of @SmartGateVC portfolio companies successfully leverage Armenia for their R&D.
The Temple of Garni, standing proudly as the sole surviving Greco-Roman colonnaded building in Armenia and the former Soviet Union, continues to be shrouded in historical mystery. While its exact origins are still a subject of debate, it is most likely that the temple was constructed in 77 AD, during the reign of Tiridates I. This Armenian monarch, who had been crowned by the Roman emperor Nero eleven years earlier, is believed to have been instrumental in the temple's construction. The tale goes that Nero, in a gesture of goodwill, sent Tiridates back to Armenia with a group of Roman craftsmen and substantial resources, which were used to build the fortified city of Garni and its central temple. This temple was dedicated to the ancient Armenian Sun God, Mihr.
Support for the Tiridates theory partially rests on a Greek inscription found near the site, which references the completion of a significant construction project in 77 AD. Nevertheless, some scholars debate whether this evidence is sufficient to conclusively confirm the theory.
What is indeed remarkable is that the Temple of Garni remains standing to this day. It not only survived a destructive earthquake in 1679 but also withstood the wave of Christianization that swept through Armenia in the 4th century. During this period, King Tiridates III's regime ordered the destruction of most pagan temples, making the temple's survival even more enigmatic.
To this day, the temple continues to be a captivating enigma, drawing over 135,000 visitors each year who come to admire its historical significance and architectural grandeur.
EXCLUSIVE: @KimKardashian and Dr. Eric Esrailian write about how it’s time for America (and the world) to take action to protect Armenians from Azerbaijan.
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my favorite fact about the armenian alphabet? while it was invented in 405 AD - it depicts the atomic numbers for seven metals. just add the position of each letter in the armenian alphabet for the old armenian names for gold, silver, lead, tin, mercury, iron, and copper.