BigCommerce IPO Looking Like A Big Debut In Hot E-Commerce Market
Summary
The initial public offering of BigCommerce Holdings (BIGC) plans to raise $198 million and is drawing heightened interest from investors in a hot e-commerce market. "Our software-as-a-service platform simplifies the creation of beautiful, engaging online stores by delivering a unique combination of ease-of-use, enterprise functionality, and flexibility," said the BigCommerce IPO filing. Austin, Texas-based BigCommerce draws comparisons with Shopify (SHOP), a top-performing stock that held its IPO five years ago and has soared in value since then. "This companys financials are very good with strong growth and improving gross margins," IPO Boutique said in a note to clients. Lead underwriters are Morgan Stanley, Barclays and Jefferies In addition, investment firm Tiger Global Management has indicated it is interested in purchasing up to 20% of the shares in the offering.