VTEX, the digital commerce platform for high-end businesses and retailers, a leader in accelerating the transformation of digital commerce in Latin America and now in global expansion, celebrated its debut on the New York Stock Exchange this Wednesday (07/21) (“NYSE”) as a publicly traded company with its shares traded under the symbol “VTEX”. Members of the VTEX leadership team rang the traditional NYSE opening bell. VTEX was priced at $19 per share, above the estimated range at the IPO of $15 to $17, raising US$ 361 million.
Founded by Geraldo Thomaz (co-CEO) and Mariano Gomide de Faria (co-CEO), the company was considered, for two consecutive years, by the International Data Corporation (IDC) as the fastest growing ecommerce application provider. VTEX is revolutionizing the digital commerce market by offering a composable, connected and complete solution for companies, with native functionality that includes ecommerce, marketplace and order management (OMS).
The founders of VTEX (left to right): Mariano Gomide and Geraldo Thomaz
“The era of standalone software is coming to an end and connected software is growing. VTEX is at the epicenter of this revolution, helping companies drive the transformation of digital commerce and build future-proof experiences for their customers,” said Geraldo Thomaz, co-CEO of VTEX. “VTEX is the backbone of the digital commerce ecosystem with a network of companies, consumers, suppliers and partners in Latin America and is now extending this vision globally. This single, connected platform vision makes us a top choice for Fortune 500 companies.”
Mariano Gomide de Faria, co-CEO of VTEX commented: “VTEX is paving the way for Latin America to become a world reference for digital commerce for companies. Today, it is just another step on our journey as we continue to expand our global presence, and it represents a huge achievement for the Latin America region. With our public listing today, we hope to inspire entrepreneurs in emerging markets to continue to raise the bar in the global software industry.”
During the last decade, ecommerce spending has increased to US$3.0 trillion and, according to information from Insider Intelligence, is expected to double to US$6.0 trillion in the next five years. Latin America was the fastest growing region in digital commerce in the world in 2020, with approximately 37% of year-on-year growth, with only 6% of penetration, which represents a large and still unexplored market. VTEX, which operates in 32 countries, has been the supplier of choice for numerous Fortune 500 companies in Latin America and is now becoming the global digital commerce supplier for branded companies such as Whirlpool, AB InBev, and Motorola. VTEX connects a complex network of companies, consumers, suppliers and fulfillment partners, and offers a single solution for companies with complete, ready-to-use features that offer unprecedented time-to-revenue with a wide variety of service options. personalization that empower companies to build unique customer experiences without complexity.
Founded in Brazil, now operating globally and publicly listed in the US, VTEX is proud to represent Latin America and its innovative technology landscape.
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