Connect with us

Hi, what are you looking for?

Jewish Business News


Israeli Global E-commerce Borderfree Raises $80 Million In Nasdaq IPO

The e-commerce company’s share price rose 25% in its first day of trading.

Borderfree logo

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.

Borderfree Inc. (Nasdaq: BRDR) raised a gross $80 million in an issue of five million shares at $16 per share – the upper end of its offer – at a company value of $488 million, after money. The share price rose 25% in its first day of trading on Friday to $20, giving a market cap of $610 million.

The underwriters, which have an over-allotment option to buy up to an additional 750, 000 shares, boosting the gross proceeds by $12 million, will presumably exercise their option.

Borderfree was founded in 1999 by Yuval Tal in Israel under the name FiftyOne, as a forex conversion site for retailers. It subsequently expanded its business to become the leader in its field, offering worldwide e-commerce for American retailers. The company is now incorporated in the US and headquartered in New York City, and keeps one of its two R&D centers in Israel. The company has 49 R&D employees, but does not disclose how many are in Israel. Altogether, it has 189 employees.

The IPO’s biggest beneficiaries are Borderfree’s investors, beginning with Pitango Venture Capital. The IPO reduced its stake in the company from 32.8% to 27.4%, worth $167 million. In second place is Adam Street Partners, which saw its stake narrow to 18.1%, worth $110.5 million.

Published by Globes [online], Israel business news –



You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The Movie The Professional is what made Natalie Portman a Lolita.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.