Primary.com, which launched today, is working directly with manufacturers in an attempt to sell products at lower prices than traditional retail brands.
The company, which provides international shipping services for at least 37 e-retailers ranked in the 2013 Top 500 Guide, including Gilt Groupe and Crate and Barrel, says it made more than $110 million in revenue during 2013 while posting a loss of $654,000.
Borderfree Inc., which provides e-retailers with international shipping services, including displaying shipping fees, duties and taxes to foreign shoppers at checkout, is looking to raise $86.25 million in an initial public offering of stock, according to a filing with the U.S. Securities and Exchange Commission.
Borderfree, which changed its name from FiftyOne Global Ecommerce last year, handles international shipping for at least 37 e-retailers ranked in the 2013 Top 500 Guide. They include Gilt Groupe, No. 49; Crate and Barrel, No. 59; and David’s Bridal Inc., No. 344.
The company plans to list on the NASDAQ exchange under the symbol BRDR. Borderfree reported in its filing more than $110 million in revenue during 2013 and a loss of $654,000. It says it works with more than 150 e-commerce sites, accepts more than 60 currencies and delivers to more than 100 countries and territories.
Borderfree makes money from fees it collects from retailers based on a percentage of their sales generated through Borderfree. Customer contracts typically range from one to four years, followed by one-year renewal periods, according to the SEC filing. It also generates additional revenue from fulfillment services, foreign exchange and other transaction fees. In 2013 it facilitated $448 million in gross merchandise sales volume on behalf of its customers, reaching 76% of the world outside the U.S.
Credit Suisse and RBC Capital Markets are main underwriters for the offering.