School Bus Startup Zum Takes Early Steps Toward IPO

It may not seem like it now, as we barrel toward SpaceX’s public debut this week, but not every initial public offering will involve a $1.75 trillion rocket-ship company. Soon enough, public investors may get to judge a much more down-to-earth business: school bus fleets.

Sequoia Capital-backed Zum, known for using its electric school buses to shuttle kids to class in school districts including Los Angeles and San Francisco, has been interviewing investment banks for a potential IPO, according to people familiar with the matter.

IPOs from companies like Zum will test public investors’ interest in companies that, according to their backers, won’t get easily dislodged by Anthropic’s Claude or other AI apps.