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The Inspiring Journey of BigCommerce: From Meeting on a Chatroom to Billions
The Inspiring Journey of BigCommerce: From Meeting on a Chatroom to Billions
This is the New Money Talks Newsletter, packed with entrepreneurs’ personal stories, real estate investing, financial tips, and more! All in three sections!
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In 2009, a vision to simplify the e-commerce experience for small businesses led to the inception of BigCommerce. Eddie Machaalani and Mitchell Harper, the co-founders, dreamed of making a significant impact on the e-commerce scene.
The Genesis of BigCommerce
Eddie Machaalani brought rich experience in software to the table, while Mitchell Harper added his unique insights into the startup scene in Australia. Together, they launched BigCommerce, and it wasn't long before the company became a gem in the Australian SaaS e-commerce platform landscape.
BigCommerce's Growth and Impact
Since its inception, BigCommerce has shown exemplary growth. The company's market value saw a significant leap, more than doubling to approximately $4.6 billion after its IPO in August 2023. This growth was driven by its unique Open-SaaS model, which answered the need for on-premise level customization in the SaaS world.
BigCommerce: A Game Changer in the E-commerce World
BigCommerce has indeed become a game changer, causing industry giants like Magento, IBM, and NetSuite to take note. With a growing clientele of small retailers, boasting annual revenue between $1 million and $2 million, BigCommerce has attracted a substantial following. With a user base of 50,000 stores that have collectively sold almost $4 billion, BigCommerce is a rising star in the e-commerce world.
The Future of BigCommerce
With significant venture capital backing of over $75 million, a high-profile board of advisors, and plans to hire top talents from successful companies like Amazon, PayPal, Google, and Twitter, BigCommerce is poised to strengthen its position in the e-commerce landscape. The company is prepared to take on the anticipated $190 billion US e-commerce holiday shopping season, demonstrating its readiness for the future.
Tweet of the Day
Ok DTC twitter.
You’ve built your brand to ~$3-5M in (DTC) sales using 1 dominant channel and solid email playbooks.
What’s your next best move to keep growing 30-50%+ / year?
Selfishly, I just love hearing how people think about roadmap/order of action.
— Matthew Bertulli (@mbertulli)
7:35 PM • Feb 8, 2022
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