Cerrritos-based online retailer Revolve today (May 28, 2019) announced plans to go public. The company under the RVLV ticker on the New York Stock Exchange following meetings with potential investors in the coming months. The initial public offering is priced at $16-$18 a share, putting the company’s valuation at about $1.2 billion.
According to WWD, the Revolve sales in 2018 grew 24.8 percent to $498.7 million with profits registering at $30.7 million.
Revolve’s founders credit a sharp focus on emerging brands and trends, combined with an early focus on influencer marketing for its growth trajectory. CMO Raissa Gerona, who joined the company in 2010, explained to Inc., “Everything the company does stems from data.”
The company was founded in 2003 by co-CEOs Michael Karanikolas and Michael Mente, who control two-thirds of the company’s voting rights after the company goes public. C-suite executives also include CMO Raissa Gerona, who joined the company in 2010.
Below, check out some images of the founders in New York on the day of the announcement.