Founders + Leaders: IPO Readiness - Preparing an IPO as CEO

TL;DR

Brent Bellm, CEO of big commerce, shares his experience in taking the company public, highlighting the importance of preparation, storytelling, and the benefits of being a public company.

Transcript

brent good afternoon austin time good morning my time how are you doing great nice to see you jeff awesome uh hello everybody i'm jeff richards one of the managing partners here at gtv capital uh lucky to be here with uh brent a phenomenal ceo who we got to back many many years ago when it was a when big commerce was a private company and happy to ... Read More

Key Insights

• 🤪 The process of going public requires careful preparation in both finance and storytelling.
• 👨‍💼 A well-crafted business section in the S1 filing is crucial for attracting investors and establishing credibility.
• 🎁 The COVID-19 pandemic presented challenges but also provided opportunities for growth.
• 🤪 Going public can lead to increased credibility, media coverage, and employee engagement.
• 🍉 Balancing short-term goals with long-term thinking is essential for sustaining growth as a public company.
• 🇨🇫 Embracing inorganic growth through acquisitions can be a strategic move for newly public companies.
• 🧑 Having a dedicated person in corporate development for M&A activities is important for successful acquisitions.

Questions & Answers

Q: What are the two tracks involved in preparing for an IPO?

The first track involves finance, legal, and accounting work, while the second track focuses on creating a compelling business story.

Q: Why is it important to have one person in charge of writing the business section of the S1?

Having one person ensures consistency and clarity in the storytelling, avoiding the confusion that can arise from multiple contributors.

Q: How did big commerce navigate the challenges of the COVID-19 pandemic during their IPO preparations?

The company had to deal with uncertainties and a potential offer to buy the company, but they ultimately decided to go public and saw their business thrive during the pandemic.

Q: What benefits did big commerce experience after going public?

The company gained credibility in the market, improved their brand awareness, and saw increased engagement from employees and customers.

Summary & Key Takeaways

• Brent Bellm became CEO of big commerce in 2015 and took the company public in 2020.

• The process of going public involves two tracks: finance, legal, and accounting, and the business track, which focuses on creating a compelling story for investors.

• Bellm emphasizes the need for a clear and well-written business section in the S1 filing, and the importance of having one person in charge of crafting the story.

• The COVID-19 pandemic presented challenges, but big commerce navigated through it and went public successfully.