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Shopify Rival BigCommerce Files For IPO

Shopify Rival BigCommerce Files For IPO

BigCommerce on Monday announced it has filed for an initial public offering with the United States Securities and Exchange Commission.

The e-commerce software-as-a-service provider put $100 million as a placeholder amount to be raised in the IPO in the SEC filing, as is standard practice. It didn't share a pricing range for its stock, and companies typically replace the placeholder amount in further filings.

The Shopify Inc. (NYSE: SHOP) competitor said it will list its share at the Nasdaq Stock Market under the ticker "BIGC."

Morgan Stanley (NYSE: MS) and Barclays PLC (NYSE: BCS) are serving as lead book-running managers for the IPO. Other underwriters include Jefferies Group LLC and KeyCorp's (NYSE: KEY) KeyBanc Capital Markets.

BigCommerce has raised $219.2 million in seven funding rounds to date, according to data from Crunchbase.

Some of the Austin-based company's backers include Goldman Sachs Group Inc. (NYSE: GS) and SoftBank Group Corp. (OTC: SFTBY).

Image: BigCommerce


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