EquipmentShare, Motive to Weigh Marketing IPOs Next Week
EquipmentShare Could Raise $1 Billion, Motive About $600 Million in Listings, According to Sources
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EquipmentShare.com Inc. and Motive Technologies are set to begin formal marketing for their initial public offerings as soon as next week, according to people familiar with the matter, as a busy year for listings gets underway.
Columbia, Mo.-based construction equipment rental firm EquipmentShare.com filed publicly for a listing on Dec. 9. The listing could raise about $1 billion, person familiar with the matter said. EquipmentShare.com ranks No. 60 on the Transport Topics Top 100 list of the largest private carriers in North America.
Motive, which counts Alphabet Inc.’s Google Ventures and Kleiner Perkins among its backers, makes artificial intelligence-enabled fleet management software and filed its IPO paperwork publicly onÌý. An IPO could raise around $600 million, a person with knowledge of the deal said.Ìý
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Deliberations are ongoing, details could still change, and the companies may delay their marketing plans, the people said. A representative for Motive declined to comment. A spokesperson for EquipmentShare.com declined to comment, citing the mandatory pre-IPO quiet period.
The deals are part of a crowded slate of expected IPOs, with Wall Street anticipating firms across technology, finance and crypto to lift 2026’s volume above last year’s. U.S. listings raised $47.6 billion last year, excluding blank check companies and financial vehicles, data compiled by Bloomberg shows.
EquipmentShare.com had a net loss of $51.2 million on revenue of $2.81 billion through September, compared with a net loss of $76 million on revenue of $2.21 billion a year earlier, according to its filing with the Securities and Exchange Commission. EquipmentShare was valued at $3.75 billion in 2023 when it announced a Series E deal that raised a total of $440 million, according to data provider PitchBook.
San Francisco-based Motive recorded a net loss of $138.5 million on revenue of $327.3 million in the nine months ended Sept. 30, according to a December filing with the SEC. That compares with a net loss of $113.9 million on revenue of $268.9 million in the same period the year before.
A 2022 funding round valued the company at $2.85 billion, according to a statement at the time.Ìý
Goldman Sachs Group, Wells Fargo & Co., UBS Group AG, Citigroup Inc. and Guggenheim Securities are leading EquipmentShare.com’s offering. The shares are expected to trade on the Nasdaq Global Select Market under the symbol EQPT.Ìý
Motive’s offering is being led by JPMorgan Chase & Co., Citigroup Inc., Barclays Plc and Jefferies Financial Group. The company plans for its shares to trade on the New York Stock Exchange under the symbol MTVE.
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