Global-e files for $857m secondary offering

• Published date: 09 September 2021

The Petah Tikva-based company has developed an e-commerce platform that removes obstacles for cross-border online sales. Global-e held its IPO on Nasdaq in May at a company valuation of $3.6 billion and as of Tuesday its share price had risen 186%, giving a market cap of $10.2 billion. Yesterday, the company's share price fell 7.53% to $68.69, giving a market cap of $10.004 billion.

Among the shareholders expected to sell as part of the secondary offering are Global-e's three founders CEO Amir Schlachet, COO Shahar Tamari and CRO Nir Debbi, who will each sell 8% of their holdings. This will earn Schlachet and Tamari $37.8 million each (according to Tuesday's value) while Debbi will rake in...