The company saw revenues surge by 35% during the first six months of this year, according to paperwork for an initial public offering (IPO) filed Friday (Aug. 22) with the U.S. Securities and Exchange Commission (SEC).
Pattern’s IPO plans were reported by Reuters, which notes that corporate issuers have begun preparing for a potential post-Labor Day roadshow launch as the listings market ramps up.
“The golden age for U.S. IPO is here,” IPOX CEO Josef Schuster said, pointing to a roughly 25% gain in the IPOX 100 index, a benchmark for investors looking for exposure to the top 100 biggest American companies that have recently listed.
“With IPO proceeds earmarked to stay in the firm, the IPO aligns well with other growth-focused deals we have seen this year,” Schuster added.
Founded in 2013 and originally known as iServe, Pattern helps brands grow across marketplaces such as Amazon, Walmart and eBay, and has, per the Reuters report, transformed from a business that once sold products from a living room to one of the world’s top Amazon resellers.
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The company said in its SEC filing that it recorded $1.8 billion in revenues in 2024, and was working with more than 200 brands as of the end of July of this year.
“At Pattern, we believe it is virtually impossible for brands to optimize each variable by themselves,” the filing said, pointing to challenges facing these brands such as a lack of access to high quality data or technology.
“Many brands do not have integrated technology capabilities. Using a patchwork of solutions can make it difficult for brands to come up with coherent strategies and coordinated execution, leading to inefficiencies and inconsistencies,” the filing said.
PYMNTS spoke last year with John LeBaron, Pattern’s chief revenue officer, about the growing complexities facing eCommerce sellers.
“Look at it from a seller’s point of view,” he said. “They’re just figuring out how to sell on Amazon and now they have to worry about Temu. And what about TikTok? And what about the 18 different plugins I need to manage on some of the other platforms.”
And even before the new U.S. tariffs took hold, brands were feeling squeezed by the growing costs of goods and customer acquisitions.
“They don’t want to pay any more than they have to for goods and services. They want more automation,” LeBaron added.
“We’re here to provide a higher level of service to brands and figure out a way to scale down those costs. I like our chances.”
