Demandware (DWRE) IPO Surges Higher
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The IPO for Demandware, Inc. (NYSE: DWRE) is open for trading. Shares are trading at $25 after pricing 5,500,000 shares at $16 per share.
Goldman, Sachs & Co. and Deutsche Bank Securities Inc. are acting as joint book-running managers for the offering. William Blair & Company, L.L.C., Oppenheimer & Co., Inc., Canaccord Genuity Inc. and First Analysis Securities Corporation are acting as co-managers.
Demandware is a leading provider of software-as-a-service (SaaS) e-commerce solutions.
From December 31, 2007 to December 31, 2011, the number of customers using Demandware Commerce platform increased from 10 to 101, a 78.3% compound annual growth rate, or CAGR, and the number of e-commerce sites operating on their platform increased from 19 to 361, a 108.8% CAGR.
Demandware generated revenue of $21.4 million, $36.7 million and $56.5 million in 2009, 2010 and 2011, respectively. They had a net loss of $10.4 million, net income of $0.3 million and a net loss of $1.4 million in 2009, 2010 and 2011, respectively.
There are expected to be 27,997,970 common shares outstanding after the offering.
Goldman, Sachs & Co. and Deutsche Bank Securities Inc. are acting as joint book-running managers for the offering. William Blair & Company, L.L.C., Oppenheimer & Co., Inc., Canaccord Genuity Inc. and First Analysis Securities Corporation are acting as co-managers.
Demandware is a leading provider of software-as-a-service (SaaS) e-commerce solutions.
From December 31, 2007 to December 31, 2011, the number of customers using Demandware Commerce platform increased from 10 to 101, a 78.3% compound annual growth rate, or CAGR, and the number of e-commerce sites operating on their platform increased from 19 to 361, a 108.8% CAGR.
Demandware generated revenue of $21.4 million, $36.7 million and $56.5 million in 2009, 2010 and 2011, respectively. They had a net loss of $10.4 million, net income of $0.3 million and a net loss of $1.4 million in 2009, 2010 and 2011, respectively.
There are expected to be 27,997,970 common shares outstanding after the offering.
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