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ChannelAdvisor (ECOM) Files $86.25M IPO

April 11, 2013 4:16 PM EDT Send to a Friend
ChannelAdvisor Corp. (NYSE: ECOM) filed a registration with the U.S. Securities and Exchange Commission for an Initial Public Offering of its Common Stock. The proposed maximum offering price is $86.25 million. ChannelAdvisor plans to list on the New York Stock Exchange (NYSE) under the symbol “ECOM.”

The offering is being made through Goldman, Sachs & Co., Stifel, Pacific Crest Securities, BMO Capital Markets, Needham & Company, and Raymond James.

Financial summary from the company: From 2010 to 2012, our total revenue increased from $36.7 million to $53.6 million, a compound annual growth rate of 20.9%. Our core revenue increased from $32.7 million in 2010 to $51.2 million in 2012, a compound annual growth rate of 25.1%. Our core revenue excludes revenue attributable to the products from two small acquisitions that we completed prior to 2008 and that are no longer part of our strategic focus, as discussed further in “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Key Operating and Financial Performance Metrics.” Our gross margin, based on total revenue, expanded from 66.8% in 2010 to 72.5% in 2012.

ChannelAdvisor is a provider of software-as-a-service, or SaaS, solutions that enable our retailer and manufacturer customers to integrate, manage and optimize their merchandise sales across hundreds of online channels.




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Raymond James, Needham & Company, BMO Capital, Pacific Crest Securities

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