Navan plows ahead with IPO during shutdown, aims for .45B valuationĀ  | TechCrunch

Navan plows ahead with IPO during shutdown, aims for $6.45B valuationĀ  | TechCrunch

Corporate travel management company Navan (once known asĀ TripActions)Ā filed updatedĀ IPO documentsĀ with the U.S. Securities and Exchange CommissionĀ on Friday,Ā even though the federal government is currently shut down.Ā Ā 

Navan isĀ proceedingĀ underĀ SEC rulesĀ thatĀ allowsĀ wanna-beĀ public companies that are in limbo during the shutdown to fileĀ updatedĀ information,Ā including share count and pricing, and have their statements automaticallyĀ ok’dĀ inĀ 20 days, without staff scrutiny.Ā Once the filings are declared effective, Navan can kick off its roadshow. The rule, however,Ā doesn’tĀ mean that staffĀ can’tĀ ask questions or require amended filings later.Ā 

Navan declined to comment to TechCrunch about its updated IPO documents.

The going thought was that the shutdown would cool and possiblyĀ freeze an IPO market that had just started to thaw.Ā Even with this rule, manyĀ companies would rather get a green light from a staffer than go it alone, sourcesĀ told,Ā Bloomberg.Ā So the tech world will be watching how Navan’s gambit fairs.Ā 

Navan’s updated filing shows the company plans to sellĀ 30 million shares, with insiders selling anĀ additionalĀ 7 million. It priced its range at $24 to $26.Ā At theĀ high-end, the company would raiseĀ more than $960 million and be valued atĀ $6.45 billion.Ā Navan is backed by Lightspeed, Andreessen Horowitz, Zeev Ventures, and Greenoaks.

NavanĀ generatedĀ rolling 12-month revenueĀ ofĀ $613 million (up 32%), withĀ lossesĀ of $188 million, according to the updated filing.

Techcrunch event

San Francisco
|
October 27-29, 2025

Source link
#Navan #plows #ahead #IPO #shutdown #aims #6.45B #valuation #TechCrunch

According to the Wall Street Journal, the export control directive that led to Anthropic cutting off access to Fable 5 and Mythos 5 was triggered in part by cybersecurity research from Amazon and conversations between CEO Andy Jassy and the White House. According to the report, the paper from Amazon claims that, through a series of prompts, it was able to get Fable 5 to serve up information that could be used in cyberattacks. Amazon has yet to respond to a request for comment.

Shortly after Jassy shared the company’s findings with the government, it made the call to block its use by foreign nationals. Complicating this issue is that many of Anthropic’s researchers are foreign-born, meaning they were barred from accessing their own product.

In a statement, Anthropic disputed the government’s characterization of the issue as a ā€œjailbreak.ā€ It argued that many of the same vulnerabilities could be discovered using other publicly available models, including GPT 5.5. Some security researchers appear to back the company’s interpretation. Katie Moussouris, the founder and CEO of LutaSecurity posted on BlueSky that ā€œI’ve seen the paper. It’s not a jailbreak.ā€ Former Commerce Department official Kate Koren speculated to the WSJ that the White House’s dislike of Anthropic may have influenced the decision.

Anthropic and the Trump administration have been at odds for some time over the company’s refusal to allow its AI to be used for mass surveillance of Americans or to power lethal autonomous weapons. In February, Trump instructed federal agencies to stop using Anthropic’s AI. And just hours later, Secretary of Defense Pete Hegseth designated the company a supply chain risk.

The government and the company seemed to have made amends, and the two had worked together to expand access to Mythos. However, now the two seem destined to clash again.

#Amazon #security #research #reportedly #led #White #Houses #Anthropic #Fable #banAI,Amazon,Anthropic,News,Policy,Politics,Security,Tech">Amazon security research reportedly led to the White House’s Anthropic Fable banAccording to the Wall Street Journal, the export control directive that led to Anthropic cutting off access to Fable 5 and Mythos 5 was triggered in part by cybersecurity research from Amazon and conversations between CEO Andy Jassy and the White House. According to the report, the paper from Amazon claims that, through a series of prompts, it was able to get Fable 5 to serve up information that could be used in cyberattacks. Amazon has yet to respond to a request for comment.Shortly after Jassy shared the company’s findings with the government, it made the call to block its use by foreign nationals. Complicating this issue is that many of Anthropic’s researchers are foreign-born, meaning they were barred from accessing their own product.In a statement, Anthropic disputed the government’s characterization of the issue as a ā€œjailbreak.ā€ It argued that many of the same vulnerabilities could be discovered using other publicly available models, including GPT 5.5. Some security researchers appear to back the company’s interpretation. Katie Moussouris, the founder and CEO of LutaSecurity posted on BlueSky that ā€œI’ve seen the paper. It’s not a jailbreak.ā€ Former Commerce Department official Kate Koren speculated to the WSJ that the White House’s dislike of Anthropic may have influenced the decision.Anthropic and the Trump administration have been at odds for some time over the company’s refusal to allow its AI to be used for mass surveillance of Americans or to power lethal autonomous weapons. In February, Trump instructed federal agencies to stop using Anthropic’s AI. And just hours later, Secretary of Defense Pete Hegseth designated the company a supply chain risk.The government and the company seemed to have made amends, and the two had worked together to expand access to Mythos. However, now the two seem destined to clash again.#Amazon #security #research #reportedly #led #White #Houses #Anthropic #Fable #banAI,Amazon,Anthropic,News,Policy,Politics,Security,Tech

Wall Street Journal, the export control directive that led to Anthropic cutting off access to Fable 5 and Mythos 5 was triggered in part by cybersecurity research from Amazon and conversations between CEO Andy Jassy and the White House. According to the report, the paper from Amazon claims that, through a series of prompts, it was able to get Fable 5 to serve up information that could be used in cyberattacks. Amazon has yet to respond to a request for comment.

Shortly after Jassy shared the company’s findings with the government, it made the call to block its use by foreign nationals. Complicating this issue is that many of Anthropic’s researchers are foreign-born, meaning they were barred from accessing their own product.

In a statement, Anthropic disputed the government’s characterization of the issue as a ā€œjailbreak.ā€ It argued that many of the same vulnerabilities could be discovered using other publicly available models, including GPT 5.5. Some security researchers appear to back the company’s interpretation. Katie Moussouris, the founder and CEO of LutaSecurity posted on BlueSky that ā€œI’ve seen the paper. It’s not a jailbreak.ā€ Former Commerce Department official Kate Koren speculated to the WSJ that the White House’s dislike of Anthropic may have influenced the decision.

Anthropic and the Trump administration have been at odds for some time over the company’s refusal to allow its AI to be used for mass surveillance of Americans or to power lethal autonomous weapons. In February, Trump instructed federal agencies to stop using Anthropic’s AI. And just hours later, Secretary of Defense Pete Hegseth designated the company a supply chain risk.

The government and the company seemed to have made amends, and the two had worked together to expand access to Mythos. However, now the two seem destined to clash again.

#Amazon #security #research #reportedly #led #White #Houses #Anthropic #Fable #banAI,Amazon,Anthropic,News,Policy,Politics,Security,Tech">Amazon security research reportedly led to the White House’s Anthropic Fable ban

According to the Wall Street Journal, the export control directive that led to Anthropic cutting off access to Fable 5 and Mythos 5 was triggered in part by cybersecurity research from Amazon and conversations between CEO Andy Jassy and the White House. According to the report, the paper from Amazon claims that, through a series of prompts, it was able to get Fable 5 to serve up information that could be used in cyberattacks. Amazon has yet to respond to a request for comment.

Shortly after Jassy shared the company’s findings with the government, it made the call to block its use by foreign nationals. Complicating this issue is that many of Anthropic’s researchers are foreign-born, meaning they were barred from accessing their own product.

In a statement, Anthropic disputed the government’s characterization of the issue as a ā€œjailbreak.ā€ It argued that many of the same vulnerabilities could be discovered using other publicly available models, including GPT 5.5. Some security researchers appear to back the company’s interpretation. Katie Moussouris, the founder and CEO of LutaSecurity posted on BlueSky that ā€œI’ve seen the paper. It’s not a jailbreak.ā€ Former Commerce Department official Kate Koren speculated to the WSJ that the White House’s dislike of Anthropic may have influenced the decision.

Anthropic and the Trump administration have been at odds for some time over the company’s refusal to allow its AI to be used for mass surveillance of Americans or to power lethal autonomous weapons. In February, Trump instructed federal agencies to stop using Anthropic’s AI. And just hours later, Secretary of Defense Pete Hegseth designated the company a supply chain risk.

The government and the company seemed to have made amends, and the two had worked together to expand access to Mythos. However, now the two seem destined to clash again.

#Amazon #security #research #reportedly #led #White #Houses #Anthropic #Fable #banAI,Amazon,Anthropic,News,Policy,Politics,Security,Tech

Post Comment