Thoughts: Shopify Rival BigCommerce Files for IPO to Get In On the Rally

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BigCommerce, a provider of e-commerce tools, has filed a preliminary S-1 with the Securities and Exchange Commission (SEC) in preparation for its initial public offering (IPO). The company plans to trade on the Nasdaq stock exchange using the ticker symbol "BIGC.

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BigCommerce competes with the likes of Shopify (NYSE:SHOP), Adobe's (NASDAQ:ADBE) Magento, and salesforce.com's (NYSE:CRM) Commerce Cloud, among others

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In its regulatory filing, BigCommerce said it serves approximately 60,000 online stores in 120 countries worldwide, and cites an accelerating shift in the adoption of digital commerce as key to its decision to go public.

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For 2019, BigCommerce reported revenue of $112.1 million, an increase of 22% year over year, while its net loss of $42.6 million widened from $38.9 million in the prior year. Revenue growth improved slightly in the first quarter, up 30%.

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