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HomeeCommerce NewsBigCommerce Holdings to come out with $130M IPO

BigCommerce Holdings to come out with $130M IPO

BigCommerce

BigCommerce Holdings, which provides a cloud-based platform for businesses to create online stores, announced terms for its IPO on Tuesday.

BigCommerce is a top e-commerce platform that allows you to create an online store. It lets you set up your store, add products, and make money through your website.  BigCommerce is a specialized e-commerce builder, meaning it’s designed to help you sell online.

The company is privately held and provides a SaaS e-commerce platform. It was founded in 2009 and has 600+ employees with headquarters in Austin, Texas. The company plans to raise $130 million by offering 6.9 million shares at a price range of $18 to $20.

New investor Tiger Global Management intends to purchase up to 20% of the shares in the offering. At the midpoint of the proposed range, BigCommerce Holdings would command a fully diluted market value of $1.4 billion

BigCommerce states that its SaaS platform simplifies the creation of online stores through ease-of-use, enterprise functionality, and flexibility. It empowers both its customers’ branded e-commerce stores and their cross-channel connections to popular online marketplaces, social networks, and offline point-of-sale systems.

As of June 1, 2020, it served approximately 60,000 online stores in approximately 120 countries.

BigCommerce Holdings was founded in 2003 and booked $120 million in revenue for the 12 months ended March 31, 2020. It plans to list on the Nasdaq under the symbol BIGC. Morgan Stanley, Barclays, Jefferies, and KeyBanc Capital Markets are the joint bookrunners on the deal.

It is expected to price during the week of August 3, 2020.

Alf Alferez
Author: Alf Alferez

Dedicated writer with a strong track record of developing customer loyalty and managing general office operations. Enjoy being a part of a company where my skills and creative ideas will benefit the overall productivity of the organization. I have a strong desire to work in helping make the world a better place. Please reach out to me on [email protected]

Author

Dedicated writer with a strong track record of developing customer loyalty and managing general office operations. Enjoy being a part of a company where my skills and creative ideas will benefit the overall productivity of the organization. I have a strong desire to work in helping make the world a better place. Please reach out to me on [email protected]