eCommerce Reseller Pattern Eyes $321 Million Fundraise in IPO

eCommerce reseller company Pattern aims to raise $321 million upon going public.

The firm, which resells items on marketplaces like Amazon, and its shareholders plan to offer around 10.7 million shares for $13 to $15 apiece, according to a filing Wednesday (Sept. 10) with the U.S. Securities and Exchange Commission (SEC). This range would value Pattern at up to $2.64 billion.

The SEC filing shows that the company had net income of $32.1 million on revenue of $1.1 billion for the first half of 2025, compared with net income of $22.6 million on revenue of $841.3 million during the first six months of last year.

In an earlier filing, Pattern had said it 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 obstacles facing these brands such as a lack of access to top quality data or technology.

A Wednesday report from Bloomberg on the company’s IPO plans cited data from Marketplace Pulse showing that Pattern ranks second in the U.S. on Amazon’s marketplace. That’s based on the number of reviews sellers received in the past 30 days.

That report also noted that brand aggregators have shifted into a consolidation phase since a pandemic-driven boom in eCommerce dried up. For example, Razor Group last year agreed to buy Perch in an all-stock deal that valued the combined company at $1.7 billion.

PYMNTS spoke last year with John LeBaron, Pattern’s chief revenue officer, about the increasing complexities eCommerce sellers have to deal with.

“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 went into effect, brands were feeling pressured by the rising 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 told PYMNTS. “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.”

The company is going public amid a wave of high-profile IPOs. Pay later company Klarna had its debut Wednesday, while several other companies are preparing to list, including stablecoin issuer Figure Technologies, and ticket resale platform StubHub.