Pattern Group Seeks IPO Amid Strong E-commerce Sales Momentum

Pattern Group, an e-commerce firm, has filed for an IPO on the Nasdaq. Originally founded as iServe in 2013, the company rebranded to Pattern and expanded internationally by 2018. Pattern Group's sales have shown momentum, leading the company to pursue an IPO.

Lehi, Utah-based Pattern Group Inc. has filed for an initial public offering (IPO) on the Nasdaq, aiming to raise approximately $400 million [1]. The e-commerce firm, originally founded as iServe in 2013, has rebranded to Pattern and expanded internationally by 2018. The company's sales momentum has led to this significant financial milestone.

Pattern Group, which helps brands sell on third-party online marketplaces such as Amazon, Walmart, and Macy's, reported robust financial performance in its latest filings. For the six months ended June 30, 2025, the company had net income of $32.1 million on revenue of $1.1 billion, compared to $22.6 million on $841.3 million in the same period last year [1]. This represents a 35% year-over-year increase in revenue and a 31% increase in net income.

The company plans to use the IPO proceeds for working capital, general corporate purposes, potential acquisitions or investments in complementary technologies and businesses, and covering anticipated tax obligations from restricted stock units [2]. Pattern Group's pre-IPO valuation was approximately $2 billion following a 2021 funding round led by Knox Lane [2].

Pattern Group's platform leverages artificial intelligence and machine learning to process over 46 trillion data points, adding 100 billion new data points each week. These insights feed automated adjustments to product listings, pricing, and marketing campaigns, allowing brand partners to optimize performance at scale without building large in-house teams [2].

The company's growth can be attributed to long-standing relationships with brand partners. In 2024, 87% of revenue came from partners engaged for more than a year, with half coming from partners with relationships exceeding five years [2]. The company's net revenue retention rate stood at 116% [2].

Pattern Group's IPO comes amid a booming global e-commerce market, projected to reach over $4 trillion by 2029 with a compound annual growth rate of 9.5% [2]. The company's integrated platform, long-standing brand partnerships, and strong financial performance position it well for further growth as a publicly traded company [2].

Goldman Sachs Group Inc., JPMorgan Chase & Co., Evercore Inc., and Jefferies Financial Group Inc. are leading the offering. The company plans for its shares to trade on the Nasdaq Global Select Market under the symbol PTRN [1].

References:
[1] https://www.bloomberg.com/news/articles/2025-08-22/e-commerce-firm-pattern-files-for-ipo-showing-revenue-growth
[2] https://www.digitalcommerce360.com/2025/08/25/pattern-group-files-400-million-ipo-global-ecommerce-platform/