CafePress (PRSS) IPO Opens Higher
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The IPO for CafePress Inc. (Nasdaq: PRSS) is open for trading. Shares opened at $21.50 after pricing 4,500,000 shares of common stock at a price to the public of $19 per share, above the expected $16-$18 range.
J.P. Morgan Securities LLC and Jefferies & Company, Inc. are acting as joint book-running managers for the offering. Cowen and Company, LLC, Janney Montgomery Scott LLC and Raymond James & Associates, Inc. are acting as co-managers.
CafePress is leading e-commerce platform enabling customers worldwide to create, buy and sell a wide variety of customized and personalized products.
CafePress posted revenues of $175.5 million in 2011, up from $127.93 million in 2010 and $103.5 million in 2009. CafePress posted net income of $3.6 million in 2011, $2.72 million in 2010 and $3.33 million in 2009.
J.P. Morgan Securities LLC and Jefferies & Company, Inc. are acting as joint book-running managers for the offering. Cowen and Company, LLC, Janney Montgomery Scott LLC and Raymond James & Associates, Inc. are acting as co-managers.
CafePress is leading e-commerce platform enabling customers worldwide to create, buy and sell a wide variety of customized and personalized products.
CafePress posted revenues of $175.5 million in 2011, up from $127.93 million in 2010 and $103.5 million in 2009. CafePress posted net income of $3.6 million in 2011, $2.72 million in 2010 and $3.33 million in 2009.
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