BigCommerce will start trading on the Nasdaq global stock exchange in NYC this afternoon after it announced its IPO.
Its 9.02 million shares of its Series 1 common stock are expected to be listed on the New York Nasdaq global stock exchange this afternoon. The SaaS platform priced its Initial Public Offering for $24.00 per share, which is above its expected range.
BigCommrce currently accommodates for approximately 60,000 e-commerce retailers across more than 120 countries. As e-commerce continues to boom across the country, it seems that there is no better time for the platform to announce its IPO.
“I’m honoured to share today’s significant milestone with our customers, partners, investors, and, most importantly, the entire BigCommerce team. We believe our Open SaaS platform is best suited to help merchants of all sizes build, innovate and grow their businesses online, which is why tens of thousands of B2B and B2C merchants place their trust in BigCommerce,” said Brent Bellm, the CEO at BigCommerce.
“This is an accomplishment worth celebrating. It affords us new opportunities for growth, both globally and within our partner ecosystem, but it does not fundamentally change the strong, successful foundation that got us to this point. We will remain a customer-first platform, and we will continue to provide our merchants – from small and medium businesses to global enterprises – with a solution that is high-performing, easy-to-use, cost-effective and completely open and customizable. Today we enter a new chapter in BigCommerce’s journey, and this is just the beginning.”
Currently, BigCommerce services ‘numerous’ industries and retailers, including SC Johnson and Skullcandy. In addition, the company partners with, rather than competing against, more than 600 partners that ‘power critical operations’ including web design, payments and shipping.
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