Kidpik, which sells kids' clothing subscription boxes, raised $18 million by offering 2.1 million shares at $8.50, within the range of $8 to $10. The company offered 0.5 million more shares than anticipated.
Kidpik provides kids' clothing subscription boxes for boys and girls of varying sizes from toddler to youth that include mix-&-match coordinated outfits that are personalized based on each member's style preferences. The company acquired its first member in 2016, and in April 2021, it shipped its millionth box. Beginning in 2021, Kidpik has expanded its advertising to include YouTube, Snapchat, TikTok, Pinterest, and digital co-branded collaborations, and it plans on moving into new channels such as broadcast and connected TV as well as building its aided awareness.
Kidpik plans to list on the Nasdaq under the symbol PIK. EF Hutton acted as sole bookrunner on the deal.
