E-commerce firm Pattern eyes up to $2.6 billion valuation in US IPO

Company Overview - Pattern is seeking a valuation of up to $2.64 billion in its initial public offering (IPO) in the United States, indicating a resurgence in the new listings market [1] - The company is offering 21.4 million shares priced between $13 and $15 each, aiming to raise as much as $321 million [2] - Founded in 2013 as iServe, Pattern is an e-commerce accelerator that assists brands in growing across various global marketplaces, including Amazon, Walmart, and eBay [3] Financial Performance - The proposed valuation of $2.64 billion represents an increase from the $2 billion valuation achieved during a 2021 funding round, where Pattern raised $225 million [3] - More than 90% of Pattern's projected 2024 revenue is expected to come from consumer product sales on Amazon [4] Market Context - The global e-commerce market revenue is projected to reach approximately $8.3 trillion by 2025, with the number of users expected to reach 4 billion by 2030 [4] - The recent IPO activity in the U.S. has been spurred by successful debuts of high-profile companies, contributing to improved investor confidence [2] Underwriting and Listing - Goldman Sachs and J.P. Morgan are the lead underwriters for Pattern's IPO, which will be listed on the Nasdaq under the symbol "PTRN" [5]