BigCommerce is a technology company which provides customers with a Saas platform. They provide web hosting, SEO services, and a lot of the same services that Shopify (SHOP) offers.
BigCommerce is leading a new era of ecommerce. Our software-as-a-service (“SaaS”) platform simplifies the creation of beautiful, engaging online stores by delivering a unique combination of ease-of-use, enterprise functionality, and flexibility. We power both our customers’ branded ecommerce stores and their cross-channel connections to popular online marketplaces, social networks, and offline point-of-sale (“POS”) systems. As of June 1, 2020, we served approximately 60,000 online stores across industries in approximately 120 countries.
BigCommerce operates at the forefront of a world of commerce that is changing rapidly. The transition from physical to digital commerce constitutes one of history’s biggest changes in human behavior, and the pace of change is accelerating. According to eMarketer Inc. (“eMarketer”), retail ecommerce was nonexistent in the early-1990s and grew to approximately 10% of all global retail spending in 2017. They predict it will take just six years for this percentage to more than double to 21% of global retail spending in 2023, as shown in the chart below. The growth in ecommerce has no end in sight.
BigCommerce IPO Details:
Revenue Run Rate 2019 - 128.5 Million
Revenue Run Rate 2020 - 137.5 Million
IPO Offering - They want to raise $100 million
Potential Float Shares - 30 million
More details to come when the company files an updated S-1
