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BigCommerce

E-commerce SaaSUSA
New to Unitard
📉 Public < $1B
Peak $6.75 BillionRecorded estimate
~-97%
from peak
  1. 🦄
    Became a unicorn
    2018
  2. 📈
    Peak valuation
    $6.75 Billion ’21
  3. 💔
    Became a Unitard
    2022
  4. 💸
    Last valuation estimate
    ~$203M
Current status
Public (rebranded Commerce.com, Nasdaq: CMRC)

The rise & fall

8 moments · 2009–2026

The key moments, with employee sentiment along the way.

2009
Founded
Eddie Machaalani and Mitchell Harper launch the online-store builder in Sydney; it grows up in Austin.
Wikipedia
2018
Joins the unicorn club
A late venture round lifts the Shopify rival past $1B on the private markets.
TechCrunch
Aug 2020
IPO pops ~200%
Having turned down a $1.5B offer from Intuit, it prices at $24 and closes near $75 on day one — about a $6.75B valuation.
CNBC
2021
The peak: $93.99$6.75B
The stock tops out with the pandemic e-commerce boom at full froth.
stockanalysis
2022–24
Shopify hardens, losses persist
E-commerce growth normalizes after the pandemic and the stock gives back roughly 97%.
stockanalysis
2022
Slips out of the club
Two years after the quadruple-on-day-one debut, the market cap is back below $1B.
stockanalysis
From the inside · Glassdoor reviews, 2022–25
Employee reviews logged the long grind: layoff rounds of roughly 10% a year for three straight years — some announced by email or timed just before the holidays — strategy flips every few months, and a 401(k) match that only arrived in 2025.
2026
Now Commerce.com
The rebranded company trades on Nasdaq as CMRC at a market cap around $226M — about 97% below the peak.
stockanalysis

💬 entries paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗; dated facts carry their source.

How it happened

BigCommerce is a SaaS platform that lets merchants build and run online stores. It turned down a $1.5B acquisition offer from Intuit and went public in August 2020, shares nearly quadrupling on day one to value the company around $6.75B.

As e-commerce growth normalized and Shopify's dominance hardened, losses persisted and the stock fell roughly 97%, leaving the company — since rebranded Commerce.com — worth a couple hundred million dollars.

Source: Built In / CNBC / stockanalysis ($24 IPO Aug 2020, closed ~$75 valuing it ~$6.75B, peaked $93.99; ~$226M market cap by 2026; rebranded Commerce.com)

Founders & leadership

  • Brent Bellm
    CEO
    No public profile matched
  • Eddie Machaalani
    co-founder & co-CEO (met Harper in an online chatroom in 2003)
    Now Co-founder / CEO at ZarlaLinkedIn ↗
  • Mitchell Harper
    co-founder & co-CEO (the pair pivoted from their earlier company, Interspire)
    Now Co-Founder & Chief Executive Officer at Annerley GroupLinkedIn ↗

Current roles as self-reported on LinkedIn, retrieved 2026-08-21. See our methodology.

Disclosed investors (11)

Historical funding participation; lists may be incomplete and do not establish current ownership or investor losses.

* Lead in a funding round · Crunchbase ↗ · 2026-10-13 · Methodology · Leaderboard

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