Demandware Files for IPO
Burlington, MA-based Demandware, a digital- and mobile-commerce software company, has filed paperwork for an IPO with a proposed maximum offering of $100 million. The offering is being underwritten by Goldman Sachs and Deutsche Bank. The company plans to list its shares on the New York Stock Exchange under “DWRE.” Demandware was founded in 2004 and most recently raised a $22 million Series D financing round that was completed last year. The company made a small profit in 2010 ($309,000) after years of net losses. Investors North Bridge Venture Partners and General Catalyst Partners each own 33.8 percent of the company, while founder and chairman (and former CEO) Stephan Schambach owns 20.6 percent of the firm.