Global-e, the leading specialist in cross-border e-commerce, has recently made its debut on NASDAQ with an initial public offering. The company is offering 15 million ordinary shares and plans to provide underwriters with a 30-day option to purchase up to an additional 2.25 million shares. The anticipated IPO offering price ranges from $23 to $25 per share, and the shares will be traded under the ticker symbol GLBE.
This move to go public is well-timed for Global-e, as the global e-commerce market is witnessing significant growth. A recent report from the United Nations revealed that e-commerce now constitutes nearly 20% of global retail sales. Moreover, the ongoing COVID-19 pandemic has restricted international travel, making cross-border e-commerce even more important since many consumers cannot shop in physical stores abroad.
Established eight years ago, Global-e has successfully cultivated partnerships with over 440 global brands and retailers spanning the US, Europe, and Asia. Their primary objective is to simplify the process of international selling, ensuring that it is just as seamless as domestic sales.
By listing on NASDAQ, Global-e aims to access capital that will enable them to further expand their operations and continue supporting brands and retailers in their cross-border e-commerce ventures. The launch of this IPO emphasizes the company’s pivotal role in the rapidly expanding global e-commerce market.
Useful Links:
1. Global-e Official Website
2. NASDAQ Official Website
