Candadian e-commerce software maker Shopify has filed for an initial public offering in Canada and the US.
The company could see valuations of over $1 billion, Reuters reported.
Shopify hopes to list Class A common stock on both the New York Stock Exchange and Toronto Stock Exchange, under SHOP and SH respectively. The company did not reveal how many shares it intends to list, or at what price, but did include a nominal fundraising target of $100 million in the Tuesday filing.
The company plans to use the proceeds from the offering for working capital and general corporate purposes.
Morgan Stanley, Credit Suisse and RBC Capital Markets are among the major underwriters for the IPO, the company filing with the US Securities and Exchange Commission said.
Bessemer Venture Partners, FirstMark Capital LP, OMERS Ventures II LP and Canadian investment and consulting company Klister Credit Corp have previously invested in Shopify.
The company’s revenue nearly doubled in the last quarter to $37.35 million, with losses lowering to $4.53 million from $6.37 million a year earlier.
Nine out of ten consumers use their smartphones more than any other device, and consumers would also prefer to use biometrics over PINs - with fingerprints being the preferred method, according to a new Mastercard survey.
It's banks, not government agencies, that the British people trust to deliver biometric authentication payment services, says a new Visa study.
With less than two weeks to go until the US liability shift hits its first anniversary, MasterCard published new data evidencing the positive impact the technology is having on issuing banks, merchants and consumers, as well as saying adoption continues to grow.
Three years since the public consultation, and a year since the £20 was revealed to be the next note to have a makeover, 13th September marks the day that the new £5 polymer bank note enters into circulation.