BigCommerce Holdings (BIGC) to Raise $131 Million in IPO

BigCommerce Holdings (BIGC) expects to raise $131 million in an initial public offering (IPO) on Wednesday, August 5th, IPO Scoop reports. The company plans to issue 6,900,000 shares at $18.00-$20.00 per share.

In the last year, BigCommerce Holdings generated $53.3 million in revenue and had a net loss of $43.4 million. BigCommerce Holdings has a market-cap of $1.2 billion.

Morgan Stanley, Barclays, Jefferies and KeyBanc Capital Markets acted as the underwriters for the IPO and Canaccord Genuity, Needham & Company, Raymond James and SunTrust Robinson Humphrey were co-managers.

BigCommerce Holdings provided the following description of their company for its IPO: “BigCommerce is leading a new era of ecommerce. Our software-as-a-service (“SaaS”) platform simplifies the creation of beautiful, engaging online stores by delivering a unique combination of ease-of-use, enterprise functionality, and flexibility. We power both our customers’ branded ecommerce stores and their cross-channel connections to popular online marketplaces, social networks, and offline point-of-sale (“POS”) systems. As of June 1, 2020, we served approximately 60,000 online stores across industries in approximately 120 countries. BigCommerce operates at the forefront of a world of commerce that is changing rapidly. The transition from physical to digital commerce constitutes one of history’s biggest changes in human behavior, and the pace of change is accelerating. According to eMarketer Inc. (“eMarketer”), retail ecommerce was nonexistent in the early-1990s and grew to approximately 10% of all global retail spending in 2017. “.

BigCommerce Holdings was founded in 2003 and has 690 employees. The company is located at 11305 Four Points Drive, Building II, Third Floor, Austin, TX 78726, TX and can be reached via phone at (512) 865-4500 or on the web at http://www.BigCommerce.com.

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