IPOs

E-commerce platform BigCommerce files for a $100 million IPO

BigCommerce Holdings, which provides a cloud-based platform for businesses to create online stores, filed on Monday with the SEC to raise up to $100 million in an initial public offering.

BigCommerce states that its SaaS platform simplifies the creation of online stores through ease-of-use, enterprise functionality, and flexibility. It powers 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 competes with Shopify, one of the best-performing IPOs of the past decade, along with private website builders such as Automattic/Wordpress and Squarespace. BigCommerce booked $120 million in sales during the last 12 months, compared to $1.7 billion for Shopify.

The Austin, TX-based company was founded in 2003 and plans to list on the Nasdaq under the symbol BIGC. BigCommerce Holdings filed confidentially on January 9, 2020. Morgan Stanley, Barclays, Jefferies, and KeyBanc Capital Markets are the joint bookrunners on the deal. No pricing terms were disclosed.

The article E-commerce platform BigCommerce files for a $100 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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