ChannelAdvisor Corporation announced the pricing of its initial public offering of 5,750,000 shares of its common stock at a price of $14.00 per share. The shares began trading on the New York Stock Exchange on the 23rd of May 2013 under the ticker “ECOM.”
Since the launch the shares have skyrocketed in a very un-Facebook like manner to around $18 per share with a high of $19.77, adding over 30% to the companies valuation. Good news for investors and good news for ChannelAdvisor employees who hold shares in the company.
In a message to customers Scot Wingo, ChannelAdvisor CEO said “An IPO is an important milestone and starts a new chapter in our journey as a company. It also provides us funding to explore new ideas, expand our platform, and address new markets.”