SHOPFY INC NPV SUB A (SHOP, Financial) experienced its welcome in New York Stock Exchange, as it set foot in the trading world of U.S. for the first time. The shares were surging more than 12% on last Friday morning. The shares experienced the trading near a $30 mark.
What is SHOPFY?
SHOPFY is a Canadian ecommerce company that develops computer software for online stores. They also design point-of-sale software for retailing businesses. This company started as a struggling company like every other startup out there. The company started as an online snowboard store and with time expanded into a leading ecommerce platform which is serving more than 165,000 merchants.
The IPO
The company decided to go public in the U.S. market and decided on its initial public offer to be priced at $17. The first day of company trading was on last Thursday where the company experienced an overwhelming response and traded at $28 per share and continued to experience the richness of the market on Friday as it traded at $30.
The right time
Buyers just experienced a good IPO of a Canadian company and the market is waiting to welcome another one with open arms. Hootsuite, another Canadian-based startup, is expected to enter the market and experience the same amount of response for investors as well. Hootsuite sells software to companies and organizations managing social media and is successful in its field.
The overwhelming response gained during Shopfy’s IPO has boosted the confidence of Hootsuite. The timing is perfect and the company wants to enter and offer as soon as possible and at the contrary the buyers are waiting to gain from another good IPO. The chief executive officer of the company, Ryan Holmes, said to Reuters that the investors’ enthusiasm for Shopfy has boosted his confidence for the IPO.
The Hootsuite market story
Hootsuite, being led by the 37-year-old Holmes, is known for not wasting time. The Canadian business magazine has been reported as the next billion-dollar company. In 2010 this company was valued at $6 billion. The company is dealing with 79 of the top fortune 100 companies and every company is using their media dashboard, the company has experienced a stable growth rate. The company already the maximum market share in the Canadian market and now is doing pretty well in the U.S. market as well.
The IPO will be a big hit and that is coming this way soon. For the time-being in a talk with Tom Liston, managing partner of Difference Capital, a company which has its stake in nine IPO ready Canadian companies told Bloomberg that this IPO had prompt more than just Hootsuite to move towards public listing at a faster pace.
Conclusion
Shopfy has its 73% market share from the U.S. market and is doing pretty well like many of the Canadian companies. The IPOs are a sure shot gainer for the investors. So, let’s stay tuned and keep an eye on which IPOs hit the stock exchange and when, but currently all eyes are waiting to know the future of Hootsuite’s expected initial public offering.
