New B2B Cross Border Payments Innovations

By  |  April 7, 2014
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The e-commerce company runs proprietary technology allowing retailers to interact with customers all over the world and handles logistics like carrier management and customs compliance. Read More.

Global e-commerce company Borderfree Inc. raised $80 million in an initial public offering of stock on the NASDAQ exchange last week following five years of exponential growth in merchandise volume.

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    The company, which changed its name from FiftyOne Global Ecommerce last year, handles international shipping for at least 37 e-retailers, including Gilt Groupe and Crate and Barrel, according to a report in Internet Retailer.

    Instead of connecting with customers itself, Borderfree runs proprietary technology enabling retailers to interact with them everywhere in the world – in their own language – and provides logistics, including carrier management and customs compliance, The Motley Fool said in a report.

    The company makes money from fees it collects from retailers based on a percentage of their sales generated through Borderfree.

    Merchandise volume grew from $4.7 million 2008 to $447.8 million in 2013, Motley Fool said.

    The company reported more than $110 million in sales during 2013 while posting a loss of $654,000, according to Internet Retailer.

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    In its IPO Friday, Borderfree issued 5 million shares at $16 per share on the exchange, listing under the symbol BRDR.


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