Insight Venture Wants IPO for Newegg
Sep 30th, 2009 by admin
Insight Venture Partners, who last week let their status as new Twitter investors be known, want to take online electronics retailer Newegg public (via): “Newegg Inc, a venture-capital backed online retailer of computer hardware and software, plans to raise up to $175 million in an initial public offering, according to a regulatory filing.
Picture of The Shop Exchange: Insight Venture Wants IPO for Newegg [source:excitingcommerce.com]
The Southern California-based e-commerce company, which runs the newegg.com website, said in a filing with the U.S. Securities and Exchange Commission that it has been profitable every year since 2001 and generated sales of $2.1 billion in 2008.”
The e-commerce portfolio of Insight Venture Partners makes up for lack of quantity with quality: After Threadless and Karmaloop, the VCs invested lately in private shopping clubs Privalia and Hautelook.
2009 could be the year of e-commerce IPOs. Vitacost wants to raise $47.7 million in its upcoming IPO. Even the Italian fashion retailer Yoox is reincarnating its stock market plans.
Originally posted in German by Jochen Krisch, adapted for excitingcommerce.com by Jason Soo.[source:excitingcommerce.com]
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