Shares of e-commerce startup BigCommerce rose as much as 292% above its $24 IPO Wednesday; stock closed up 201% and raised $216M
Crystal Tse / Bloomberg : Tweets: @delrey , @bigcommerce , @financialreview , @elena_a_leonova , and @mcannonbrookes Tweets: Jason Del Rey / @delrey : BigCommerce, an e-commerce software company, priced its IPO at $24/share, opened trading this AM at nearly $68/share, and is now trading at $74 @bigcommerce : Today, we celebrate the #BigCommerceIPO with the customers, teammates, partners and families who made it possible. $BIGC This is a big moment, but the journey ahead is even more exciting. Together, we're just getting started! A note from CEO Brent Bellm: https://www.bigcommerce.com/ ... @financialreview : From humble beginnings above a Rozelle phone shop in 2003, Eddie Machaalaani and Mitchell Harper are set to burst on to the Financial Review Rich List with fortunes of about $650 million each. https://www.afr.com/... Elena Leonova / @elena_a_leonova : Today is one of the proudest days that we have at #bigcommerce. I'm extremely proud of what we have accomplished already, and what the future years will bring! It's been great 3 years! #BigCommerceIPO #ecommerce https://twitter.com/... Mike Cannon-Brookes / @mcannonbrookes : Congrats to the @BigCommerce team on their NASDAQ IPO - $BIGC! 👏🏻 A huge milestone. Sydney-founded → public market cap ~$USD5b? 🎉 The Aussie tech industry should cheer this! #startupaus https://www.businessinsider.com.au/ ...
Context & Ripple Effects
BigCommerce's Nasdaq debut caps a long private run: the storefront-software maker had raised over $155M by 2016 through its $30M round led by GGV Capital, added a $64M round led by Goldman Sachs in 2018, and confidentially filed for an IPO just six weeks ago with reports pointing to a potential $1B valuation.
First-order effects
- The offering puts $216M on BigCommerce's balance sheet while leaving day-one buyers paying roughly three times the $24 institutional price at the open near $68.
Second-order effects
- Pre-IPO backers from the GGV and Goldman Sachs-led rounds see their stakes reprice sharply upward, validating a seven-year, $200M+ venture funding path to exit.
Third-order effects
- If the pattern holds — Shopify's climb from a $46B early-2020 market cap toward $174B, followed by Klaviyo's $9.9B NYSE debut and Instacart's profitable IPO filing — merchant-facing e-commerce software becomes a durable public-market category rather than a one-off window.
The trend: E-commerce infrastructure vendors are converting pandemic-era merchant demand into premium public listings, following the re-rating trajectory Shopify established.