Bigcommerce has today announced former PayPay Europe CEO Brent Bellm as its new CEO ahead of a possible IPO, with co-founder and current CEO Eddie Machaalani shifting to the role of Executive Chairman.
Rumours of a Bigcommerce IPO have been swirling since last year, when the company raised a $50 million Series D round and Machaalani said he was open to the prospect of an IPO within 24 months.
The hiring of Bellm, who has been President and CEO at holiday rental marketplace HomeAway since 2010 and guided the company through an IPO that valued the company at $2.2 billion, hints that a Bigcommerce IPO will come sooner rather than later.
Bellm was previously at PayPal in a variety of roles for seven years, including Vice President and CEO of PayPal Europe.
Machaalani pointed to Bellm’s work with small business owners as a common theme throughout his career.
“Brent shares in Bigcommerce’s vision to democratise commerce for high growth brands that are challenging the giants in their industries. Brent is the right leader to oversee our next stage of growth and ensure we are meeting the needs of today’s merchants and building a premium platform,” Machaalani said.
Bellm highlighted the growth of Bigcommerce from relatively unknown platform to industry leader and disrupter over the last six years.
“I have been serving offline and online retailers, with a focus on small and mid-sized ones, for 20 years. Bigcommerce is the right platform at the right time and place to power these merchants and drive business results,” he said.
The appointment of Bellm is the latest development in what has already been a busy year for Bigcommerce. The company made its first acquisition in April, acquiring Zing to help accelerate its onmi-channel strategy, and launched Enterprise, an enterprise-grade platform for high-volume retailers, a month ago. It also launched partnerships with PayPal, Intuit, Square, and Alibaba this year.
Bigcommerce, which has raised $125 million in capital to date, now services over 95,000 stores and counts companies including Samsung, Ubisoft, and Marvel as clients.