Pattern Group, an online reseller that partners with consumer brands to accelerate their growth, announced terms for its IPO on Wednesday.
The Lehi, UT-based company plans to raise $300 million by offering 21.4 million shares (50% secondary) at a price range of $13 to $15. At the midpoint of the proposed range, Pattern Group would command a market cap of $2.6 billion.
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). In the latest fiscal year, 94% of revenue came from Amazon.com and Amazon international marketplaces; 93% of revenue was US-based.
Pattern Group was founded in 2013 and booked $2.1 billion in revenue for the 12 months ended June 30, 2025. It plans to list on the Nasdaq under the symbol PTRN. Goldman Sachs, J.P. Morgan, Evercore ISI, Jefferies, Baird, BMO Capital Markets, KeyBanc Capital Markets, Needham & Co., Stifel, and William Blair are the joint bookrunners on the deal. It is expected to price the week of September 15, 2025.
