CafePress, which operates an e-commerce site where customers create, buy and sell personalized products, announced terms for its IPO on Wednesday. The San Mateo, CA-based company plans to raise $77 million by offering 4.5 million shares (44% insider) at a price range of $16.00 to $18.00. At the midpoint of the proposed range, CafePress would command a market value of $303 million. Venture capital firm Sequoia Capital is not selling and will own 17% of shares after the offering.
CafePress, which was founded in 1999 and booked $175 million in 2011 sales, plans to list on the NASDAQ under the symbol CPRS. J.P. Morgan and Jefferies are the joint bookrunners on the deal.
