ChannelAdvisor's main business is helping companies sell goods and services on the Internet has recently applied for listing through an initial public offer. The company forecasts that the IPO would raise more than US$86 million in documents filed with the Securities and Exchange Commission.
The filing did not stipulate the expected price range for its initial stock price nor the volume of share prices to be offered for sale.
The software company operates under the Software-as-a-Service model, aiming to help sell goods in online market places such as eBay and Amazon.com. The software utilizes cloud computing capabilities letting the data be stored in the Internet 'cloud'.
As of the start of the year, ChannelAdvisor said it has over 1,900 clients worldwide including more than a fourth of the largest online retailers in the US. The client portfolio includes Dell and retailers such as eBags.com. This is in line with the recognition that ChannelAdvisor is tapping a growing market soon to replace over the counter purchases.
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