RedEnvelope Goes Public

San Francisco-based gifts marketer RedEnvelope on Sept. 24 offered 2.2 million shares to the public at $14 per share. WR Hambrecht + Co underwrote the transaction. The shares are quoted on the Nasdaq National Market under the symbol REDE.

In August, the company said it plans to put $6 million of the funds raised toward working capital and the buildup of inventory prior to the holiday season, and $5 million to purchase new capital equipment and information technology products. On the second day of trading, shares closed at $14.55, up roughly 4% from the day before.

Partner Content

3 Critical Components to Achieving the Perfect Order - NetSuite
Explore the 3 critical components to delivering the perfect order.
Streamlining Unified Commerce Complexity - NetSuite
Explore how consolidating multiple systems through a cloud-based commerce platform provides a seamless experience for both you, and your customer.
Build the Foundation for Great Customer Experiences - NetSuite
Understand how consistent, timely, relevant and personalized experiences are enabled by having the right technology foundation in place.
Strategies for Maximizing Mobile Point-of-Sale Technology - NetSuite
Learn the top five innovative ways to utilize your mobile POS technology to drive customer engagement, increase sales and elevate your brand.