BigCommerce Files For IPO

BigCommerce Initial Public Offering

BigCommerce Holdings, Inc. (“BigCommerce”) announced that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of shares of its Series 1 common stock.

The number of shares to be offered and the price range for the proposed offering have not yet been determined.

BigCommerce has applied to list its Series 1 common stock on the Nasdaq Global Market under the ticker symbol “BIGC.” 

Morgan Stanley and Barclays are acting as lead book-running managers for the proposed offering. Jefferies and KeyBanc Capital Markets are acting as book-running managers for the proposed offering.

Canaccord Genuity, Needham & Company, Raymond James, and SunTrust Robinson Humphrey are acting as co-managers for the proposed offering.

Rumors of a BigCommerce IPO surfaced last month via a Bloomberg report.

With Shopify showing continuing growth and the coronavirus pandemic bringing more brands and shops online, the proceeds from BigCommerce IPO should help the company help accelerate its expansion domestically and internationally.

Some Details From The S-1 Filing

In the S-1 filing, the company says that “We believe there is a significant opportunity to grow our business internationally.” and that as of June 24, 25 percent of its stores were located outside the U.S.

BigCommerce also disclosed it is serving about 60,000 online stores in approximately 120 countries and counts Avery Dennison, Ben & Jerry’s, Burrow, SC Johnson, SkullCandy, Sony, and Woolrich as its customers.

Despite 2019 gross revenues of $112.1 million, the company still had a net loss of $42.6 million in 2019. But in the first quarter of 2020, BigCommerce reduced the net loss to about $4 million, down from about $10.5 million in the same quarter of 2019.

It also acknowledged that “We have not yet achieved profitability” and BigCommerce has accumulated a deficit of $280.7 million.

The IPO is expected to be around $100 million, but pricing terms have not been confirmed. Previously, BigCommerce raised over $219 million while private.

Connect With Us And Other Small Business Owners

Please head over to our Facebook Group for Small Business Sellers and interact with other small business owners.

Follow us on FacebookTwitter, and LinkedIn to stay up to date with relevant news and business insights for your online business.

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest
Share on email
Email