Global-E Online, which provides a platform for cross-border e-commerce, announced terms for its IPO on Monday.
The Petah Tikva, Israel-based company plans to raise $360 million by offering 15 million shares at a price range of $23 to $25. New investor Dragoneer intends to purchase 2 million shares on the offering (13% of deal). At the midpoint of the proposed range, Global-E Online would command a fully diluted market value of $4.0 billion.
Global-E Online believes it has built the world's leading platform to enable global, direct-to-consumer cross-border e-commerce. Its platform allows international shoppers to buy online and for merchants to sell from, and to, anywhere in the world. The company aims to increase the conversion of international traffic into sales by removing much of the complexity associated with international e-commerce. Global-E Online has more than 400 merchants on its platform, which supports local messaging in over 25 languages, purchases in more than 100 currencies by over 150 payment methods, and a multitude of shipping options.
Global-E Online was founded in 2013 and booked $136 million in sales for the 12 months ended December 31, 2020. It plans to list on the Nasdaq under the symbol GLBE. Goldman Sachs, Morgan Stanley and Jefferies are the joint bookrunners on the deal. It is expected to price during the week of May 10, 2021.
