糖心视频

E-commerce startup 鈥檚 stock closed at $72.27, about 201 percent above its IPO price, on its first day of trading.

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The Austin-based company priced its shares at $24 apiece on Tuesday, raising more than $216 million. BigCommerce鈥檚 stock opened at $68 on Wednesday, with the price going as high as $91.80 around 12:35 p.m. ET.聽 The company鈥檚 shares trade on the Nasdaq under the ticker BIGC.

If a startup鈥檚 stock surging like crazy on its first day of trading sounds familiar, it鈥檚 because it鈥檚 been happening a lot lately. BigCommerce is one of a long string of companies to see their stock open well over its IPO price when it hits the public markets. It鈥檚 definitely a change of pace from earlier this year, considering the long IPO lull for tech companies following COVID-19 being declared a pandemic.

BigCommerce raised at least $219 million in funding as a private company from investors including , and . It reported $33 million in revenue for the first quarter of 2020 and $4 million in losses during the same period. BigCommerce isn鈥檛 profitable, but most startups going public aren鈥檛 these days.聽

It鈥檚 a good time to be an e-commerce company, and it looks like public market investors think so too.

Illustration: Li-Anne Dias