Faire Prepares for Possible IPO After Reaching EBITDA Break-Even
The wholesale marketplace is weighing a listing while reporting $750 million in annualized revenue for its latest quarter.
Key takeaways
- Faire is eyeing a potential IPO in the next 12 months, but has not set a timeline.
- The company reported $750 million in annualized revenue for its latest quarter, up 49% year over year.
Faire is eyeing a potential IPO in the next 12 months, after reporting $750 million in annualized revenue for its latest quarter. Revenue was up 49% from a year earlier, and the company reached EBITDA break-even for the first time.
Finance chief Jason Lee said he is preparing the company for an IPO but has not committed to a timeline. Faire’s latest reported valuation was $5.2 billion in a tender offer last November, below its $12.6 billion peak in May 2022.
In 2022, Faire cut jobs, reduced the number of brands on its marketplace and introduced technology aimed at retaining customers. CEO Max Rhodes said the company had focused on higher-quality products and retailers’ repeat orders.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
