This is a top-tier performance for all major underwriters during the period.BIGC is going public in part to pay a Series F dividend although most of the proceeds will be available for the company\u2019s future growth initiatives.The company provides healthcare services to Medicare Advantage patients and others in the United States.The company is a clinical stage biopharma advancing a drug treatment candidate for melanoma and head & neck cancer.The firm originally launched with a focus on the SMB market, with a self-serve website-based service.The company provides a range compute infrastructure and related software consulting services to enterprises of all sizes worldwide.However, the firm’s revenue growth rate of nearly 30% is likely higher than the comparable basket, so I view the IPO as reasonably valued.Per the firm\u2019s most recent regulatory filing, the firm plans to use the net proceeds as follows:Austin, Texas-based BigCommerce was founded to develop e-commerce software delivered as a SaaS platform for online retailers.BigCommerce’s recent financial results can be summarized as follows:The firm's primary uses cases include:Listed underwriters of the IPO are Morgan Stanley, Barclays, Jefferies, KeyBanc Capital Markets, Canaccord Genuity, Needham & Company, Raymond James, and SunTrust Robinson Humphrey.BigCommerce has received at least $225 million from investors including Revolution Growth, General Catalyst Group, GGV Capital and SoftBank.The firm's primary uses cases include:Below are relevant financial results derived from the firm’s registration statement:The main drivers for this expected growth are an increase in e-commerce capabilities to assist enterprises in automating core business functions while increasing the leverage firms have as consumers increasingly adopt online shopping for goods and services.As of March 31, 2020, BigCommerce had $33 million in cash and $118. BigCommerce was founded in 2009 by Australians Eddie Machaalani and Mitchell Harper … Their API can support large customers and scales to 400+ API calls per second. Posted July 29, 2020. BigCommerce was founded in Australia in 2003 as Interspire and in 2013 changed their name to BigCommerce. Company Name Proposed Symbol Exchange Price Range Shares Week Of; BigCommerce Holdings: BIGC: Nasdaq: $18.00 - $20.00: 6,850,000: 8/3/2020: Harbor Custom Development
In paperwork filed with the SEC on July 13, the company noted its revenues climbed from $91.9 million in 2018 to $112.1 million in 2019. One publication commenting on the news described BigCommerce as an “American Shopify”. Its features include customer groups and segmentation, search engine optimization (SEO), web hosting, and more. According to eMarketer, more than half of the global population is online (4B+ internet users) and global retail ecommerce will reach $3.9 trillion in 2020, 17% of total retail spending, and is growing rapidly as a percentage of the total. BigCommerce references a new model of direct-to-consumer, vertically-integrated digitally native brands or âDNBsâ, which represent 31 of the Internet Retailer Top 500 Stores. Company headquarters was moved to the U.S. in 2011. The magic number is defined as net new ARR/non-GAAP sales and marketing spend of the prior quarter. BigCommerce IPO: The Business BigCommerce is a technology company founded in 2009. We intend to use the remainder of the net proceeds from this offering for working capital and general corporate purposes, including sales and marketing, research and development, general and administrative matters, and capital expenditures.Sales and marketing expenses as a percentage of total revenue have been uneven as revenues have increased; the firm’s sales and marketing efficiency ratio has improved.Major competitive or other industry participants include:Excluding effects of underwriter options and private placement shares or restricted stock, if any, the float to outstanding shares ratio will be approximately 10.4%.The company provides property and casualty (P&C) insurance firms with a range of SaaS software solutions.The business offers consumer lifecycle management services and related solutions for the enterprise.The firm has a robust partner program for both Agency partners and Technology partners.The firm is advancing a pipeline of treatments for Parkinson's Disease and other neurodegenerative disorders.The company sells pasture-raised egg products and butter to consumers in the U.S.Also, firms that utilize APIs (Application Programming Interface) enable companies to employ low code solutions to quickly modernize their existing systems.The market opportunity for providing a SaaS e-commerce solution is large and likely to grow at a significant rate in the coming years, so the company enjoys a robust industry growth dynamic.Sales and marketing expenses as a percentage of total revenue have been uneven as revenues have increased; the firm\u2019s sales and marketing efficiency ratio has improved.The Sales & Marketing efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Sales & Marketing spend, rose to 0.5x in the most recent reporting period.BIGC has sold its software to 60,000 online stores in more than 110 countries worldwide.This represents a forecast very strong CAGR (Compound Annual Growth Rate) of 16.3% from 2020 to 2027.The firm\u2019s financials indicate it is growing topline revenue at an accelerating rate; gross profit and gross margin have increased, although operating profit has been highly variable.Assuming a successful IPO at the midpoint of the proposed price range, the company’s enterprise value at IPO would approximate $1.5 billion.That growth potential will no doubt be assisted further by the Covid19 pandemic and its effects on businesses seeking to produce more of their revenue from digital sources.Sales & Marketing expenses as a percentage of total revenue have been uneven as revenues have increased.
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