#eCommerce / Intuit Offered $1.5B To Buy BigCommerce Before Its IPO

[BigCommerce works in the field of helping eCommerce retailers with software for developing websites, handling payments and converting currencies.]

After BigCommerce’s initial public offering (IPO) last week, the company has seen a massive uptick in its stock, which shot up over 200 percent. But before that, Intuit offered to buy the company for $1.5 billion, a proposal that was rejected… If BigCommerce had taken Intuit’s $1.5 billion deal… the company would have been valued at around 11 times revenue…. The company was valued at around 44 times revenue on Monday (Aug. 10).

BigCommerce’s chief rival, Shopify, has also been doing well, with 62 times revenue trading at the same time… Shopify… has been a Wall Street favorite for years now, with its stock price and revenue ballooning.

Earlier this month, BigCommerce’s shares began soaring after the IPO… shares began trading up 183 percent from the IPO price, making it the second-biggest gain from a company raising at least $100 million in a year when many IPOs weren’t certain to go through.

https://www.pymnts.com/news/ipo/2020/intuit-offered-1-5b-to-buy-bigcommerce-before-its-ipo