Pattern Group, an online reseller that partners with consumer brands to accelerate their growth, filed on Friday with the SEC to raise up to $100 million in an initial public offering. However, the deal size is likely a placeholder for an IPO that Bloomberg estimated could raise $400 million, citing an unnamed source.
Pattern calls itself "the pioneer of ecommerce acceleration" with its own proprietary technology platform powered by AI and machine learning, which executes thousands of optimizations daily in order to better sell tens of thousands of products on marketplaces around the world. The company mainly generates revenue by purchasing products from its brand partners (e.g. Gaia, Bosch, Tumi, LifeScan) and selling those products to consumers on global marketplaces (e.g. Amazon, Walmart, TMall).
The Lehi, UT-based company was founded in 2013 and booked $2.1 billion in sales for the 12 months ended June 30, 2025. It plans to list on the Nasdaq under the symbol PTRN. Pattern Group filed confidentially on December 16, 2024. Goldman Sachs and J.P. Morgan are lead bookrunners, with Evercore ISI and Jefferies acting as joint bookrunners, and additional bookrunners Baird, BMO Capital Markets, KeyBanc Capital Markets, Needham, Stifel, and William Blair. No pricing terms were disclosed.
