May 23, 2013

Reuters

E-commerce software maker ChannelAdvisor soars in debut

ChannelAdvisor Corp shares soared as much as 39 percent in their market debut on Thursday as investors bet the e-commerce software company will benefit from the rapid global spread of online buying and selling.

The company's shares opened up 25 percent, after its initial public offering of 5.8 million shares was priced at $14 per share, the high end of its pricing range. They touched an intraday high of $19.49, valuing the company at about $400 million.

ChannelAdvisor, founded in 2001, helps companies sell via online marketplaces and websites such as Amazon.com Inc, Google Inc and eBay Inc. Customers include Ann Taylor, eBags.com, J&R Electronics and Jos. A. Bank Clothiers.

Read more:  http://www.reuters.com/article/2013/05/23/us-channeladvisor-ipo-idUSBRE94M0R720130523