Newegg to file for IPO
Newegg is one of the most loved online retailing services in the USA.
The company is currently backed by venture capitalists.
They are now planning to raise up to $175 million in an initial public offering.
This was revealed in a filing with the US regulatory bodies.
The company claimed in the filing that they have been profitable since 2001.
Newegg further claims that they generated sales of $2.1 billion in 2008.
Venture Partners is one of the biggest shareholders in Newegg currently.
Initial public offering, IPO, Newegg, Newegg.com, News, Online Shopping, retail, retail stores, USA, venture partners, Web Services
Rajesh Dogra
Category: News
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