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7h ago

Pattern Slips in Nasdaq Debut After $300 Million IPO

The Amazon-reliant ecommerce accelerator priced shares at $14 for a roughly $2.5 billion valuation.

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Utah-based tech platform Pattern rang the opening bell at the NASDAQ exchange on Friday, Sept. 19, 2025, marking the company's stock market debut.
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Overview

  • Pattern began trading on Nasdaq under the ticker PTRN at $13.50, below its $14 offer price, implying a valuation near $2.38 billion.
  • The offering raised $300 million at $14 a share, with roughly half of the proceeds going to selling shareholders.
  • Founded in 2013 as iServe, the company helps more than 200 brands sell across marketplaces including Amazon, Walmart, Target and TikTok Shop.
  • Pattern said 94% of its 2024 revenue came from sales on Amazon, a concentration it flagged as a key risk in its filings.
  • Second-quarter revenue rose 39% to $598.2 million with net income of $16.4 million, as executives cited tariff uncertainty as a reason the IPO was delayed by months.