ChannelAdvisor, a provider of cloud-based eCommerce solutions, has filed for an initial public offering (IPO), for an estimated $86 million. The planned stock symbol, under the New York Stock Exchange, will be “ECOM.”
The price per share, and number of shares to be sold, has not yet been determined. ChannelAdvisor was not available to comment on the offering.
Within the S-1 form filed with the SEC, ChannelAdvisor reported that the company has increased its total revenue to $53.6 million at year-end 2012, up from $36.7 million in 2010, a compound annual growth rate of 20.9%.
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Currently, ChannelAdvisor serves more than 1,900 core customers worldwide, including traditional retailers, online retailers and brand manufacturers, and as advertising agencies, the company reported. Those customers include “27% of the top 500 U.S. Internet retailers, as identified by Internet Retailer magazine based on their 2011 online sales,” as explained in the S-1 form.
As part of its growth strategy, ChannelAdvisor is planning a number of initiatives, including:
- Expanding the sales force;
- Deepening existing customer relationships, by expanding sales, marketing and services efforts;
- Increasing a global market presence, by expanding the existing presence in Europe and the Asia-Pacific region, as well as establishing new business in Latin America and China.
- Expanding the number of channels supported by the platform;
- Maintaining innovation leadership, through the addition of new features and improved funcationality; and
- Pursuing strategic acquisitions.
The company also shared five brief case studies, to illustrate how ChannelAdvisor solutions are being used in the marketplace. Those case studies included: Dell, ReCellular, Littlewoods Clearance, Barratts Trading and Newegg.
Download the ChannelAdvisor white paper titled: Should You Go It Alone or Go Through a Provider? which outlines the necessary considerations and restrictions for selling on eBay and Amazon.
