tencent technology on October 3, furniture and household items online retailers Wayfair officially hit the New York stock exchange on Thursday, it was priced at $29 IPO (initial public offering), higher than the previously published price range.
as of Thursday’s close, shares Wayfair in regular trading on the New York stock exchange rose $8.27 to $37.72, or 30.07%, intraday high of $39.43 hit. In the IPO, Wayfair and its selling shareholders raised $319 million in total.
Wayfair by Niraj Shahe and Steven Conine joint was founded in 2002, is headquartered in Boston. The company was originally as a cluster of operating, including bedroomfurniture.com and allbarstools.com, etc., and eventually merged to Wayfair.com. In 2011, the company will be the name from the CSN change for Wayfair Stores LLC.
according to Wayfair with the securities and exchange commission (SEC), according to a regulatory filing by the end of last year the number of active users for 2.1 million people, compared with 2012 growth of 61%, and formed a partnership with more than 7000 vendors. Wayfair on revenue of $915.8 million in 2013, compared with 2012 jumped by 52%, but the company has not yet profitable.
Wayfair in March this year for the last time financing transactions, from the t. Rowe Price Group led by the investment community there raised $157 million. According to a source familiar with the situation, at that time, the company’s valuation of $2 billion. And calculate according to the IPO price of $29 a share, Wayfair estimated to be worth $2.4 billion.
regulatory documents show that Wayfair with dual share structure, the class B shares by insiders hold, now in the process of class B shares have 10 votes per share of vote, this kind of stock in a proportion of the total voting rights of 98.5%. File also said that Wayfair plans to use some $21 million in net income to the company’s IPO, co-founder and some of the executives and shareholders in cash dividend, the rest will be used for general corporate purposes and potential mergers and acquisitions.
Wayfair IPO underwriters for Goldman sachs group inc., bank of America and citigroup.