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Ecommerce Design Platform BigCommerce Raised $216 Million US IPO

CY Seah
Esther Thin

BigCommerce Holdings Inc, stocks skyrocketed 201.13% on its first day of trading on August 5, 2020. and rose another 29.39% on August 6, 2020, closed $93.51, giving the company a market cap of approximately $6.1 billion.

The company which designs and develops software for online marketplace raised $216 million by offering 9 million ADSs at $ $24, the upwardly revised range of $21 to $24.

The company served more than 60,000 online marketplaces from 120 countries as of June 1, 2020. The company simplifies the process of creating online marketplace for its clients and making it more functional and flexible.

The Austin, Texas-based company was founded in 2003 and booked $120 million in revenue for the 12 months ended March 31, 2020. The company plans to list on the Nasdaq Global Market under the symbol “BIGC”. Morgan Stanley, Barclays, Jefferies, and KeyBanc Capital Markets are underwriters of the IPO. 

The company engages DLA Piper LLP as US Securities Counsel, and Ernst & Young LLP as Independent Auditor.

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