Navan, a platform that promises to simplify the business of corporate travel and expenses, is still dallying towards its long-slated IPO, with the company’s CEO forecasting that the business will reach profitability this year and is “not far” from going public.
Counting Heineken, Shopify, Zoom, and Pinterest among its customers, Navan’s made a splash in the working world, as a growing list of organizations use the online booking platform to lighten the logistical hassle of organizing hotels, flights, corporate cards, and other expenses for their employees.
The company started life in 2015 as TripActions, but changed its name to a portmanteau of “navigate” and “avant” (apparently as in "avant-garde") in 2023, and whispers of a potential IPO have abounded for years. After seeing its valuation soar above $1B in 2018 and growing further since, the company has reportedly considered going public in 2023, 2024, and 2025 — despite Covid’s impact on the travel industry — cutting its workforce and building its leadership team ahead of the rumored offering.
System overload
Navan could be viewed as another ripple in the ever-growing wave of software services that companies use to outsource some of their more time-sapping internal processes. There’s all-in-one platforms like Oracle and Workday, which is used — and seemingly semi-despised — by more than 50% of Fortune 500 companies; payroll and HR management tools like Gusto; Workable and Greenhouse which are for applicant tracking; Checkr which runs background checks; and a meme-sparking array of others that do almost everything else.
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Starbucks issues apology after viral “Bearista” cup meltdown
Holiday cheer turned into chaos this week for Starbucks after the coffee giant’s new “Bearista” holiday cup sent fans into a frenzy.
Dropped alongside its 2025 holiday menu, the $30 beanie-wearing glass bear tumbler sparked long lines, sellouts, and even in-store scuffles before Starbucks stepped in with an apology.
“The excitement for our merchandise exceeded even our biggest expectations,” the company said in a statement to People. “Despite shipping more Bearista cups to our coffeehouses than almost any other item this holiday season, the Bearista cup and some other items sold out fast.”
Within hours of launch, frustrated fans flooded Starbucks’ social media pages and even store hotlines. Some customers waited in line before dawn and others said their stores received only a handful of cups. In one Houston location, the craze even turned physical, with police reportedly called to break up a brawl. Meanwhile, the cup is already reselling on sites like eBay, with listings topping $600.
“We understand many customers were excited about the Bearista cup and apologize for the disappointment this may have caused,” Starbucks said. While in-store customers may be upset, investors seem happy about the viral hit, as the stock has risen over 3% on Friday.
If you’re still hoping for a Bearista at market price, that may not be on order: the chain didn’t disclose how many cups were made or whether a restock is planned.
Target tells workers to smile, wave, and greet shoppers if they come within 10 feet of them
Target just rolled out a new rule for store employees: “smile, make eye contact, and greet or wave” when a shopper comes within 10 feet — and if they get closer, within four feet, “ask whether they need help or how their day is going,” according to a new Bloomberg report.
Dubbed the “10-4 program” internally, the rule mirrors rival Walmart’s own 10-foot policy, formalizing behavior Target had previously only encouraged.
Monster surges on energy drink buzz, while Celsius sinks on distribution concerns
Shares of Monster Beverage climbed 5% after the bell on Thursday, and held most of those gains into early trading on Friday, following strong Q3 results.
The energy drink giant topped market expectations, with quarterly sales up 17% year over year to $2.2 billion and adjusted net profits growing 41% to $524.5 million — 11% ahead of Wall Street’s estimates. In the report, Monster highlighted its zero-sugar line and new product launches, with a stack of novel flavors already released this year, as bright spots.
During a call with analysts, Chief Executive Hilton Schlosberg said that the global energy drink category “remains healthy with robust growth,” The Wall Street Journal reported, adding that demand for more affordable caffeinated drinks is rising as coffee has become “really expensive.”
Meanwhile, rival beverage business Celsius saw shares fall as much as 23% on its Q3 results yesterday — despite beating expectations, with revenue jumping 173% — largely due to concerns about a change in the company’s distribution channel, as its newly acquired Alani Nu brand joins the PepsiCo distribution network.
