- Pattern launched an IPO, earning $300 million and reaching $2.5 billion valuation.
- It marked the richest initial public offering for a Utah company with a female co-founder
- The e-commerce accelerator leads its sector and operates 24 offices around the world.
Incredibly excited and really grateful.
Those were the sentiments of Pattern co-founders David Wright and Melanie Alder on Friday after a whirlwind morning that found the couple, along with 100 of their employees and business partners, starting the day by ringing the opening bell at the Times Square headquarters of the NASDAQ stock exchange where their company became the latest addition to the listings.
Pattern’s initial public offering raised $300 million and pushed the company to a $2.5 billion valuation.
On a journey that launched over a decade ago with the most humble of pursuits — selling refrigerator magnets online — Pattern now finds itself at the top of its category as an e-commerce accelerator that works with brands to grow online sales by handling everything from marketplace strategy to inventory, marketing, logistics and data optimization.
NASDAQ President Nelson Griggs celebrated the company in comments ahead of Friday’s opening bell ceremony.
“Pattern has redefined what it means to scale in this digital economy we have now,” Griggs said. “Your proprietary technology empowers brands to optimize their presence on platforms like Amazon, Walmart and TikTok and you’re helping them grow exponentially at a faster pace and way more efficiently.
“As e-commerce enters this new age of the AI world, (Pattern) is leading this transformation with global reach, data-driven strategies and your amazingly reliable end-to-end solutions.”
From humble beginnings
Pattern, co-founded in 2013 by Wright and Alder and originally operating out of Alder’s living room, helps its partner companies — whether well-known global brands or fresh up-and-comers — distinguish their products in an online marketplace that is flooded with competitors.
The Lehi-based company has become a behemoth in the e-commerce accelerator space, now boasting 2,100 employees across 24 global locations, including eight distribution centers.
And that stellar growth arc is showing no signs of slowing down with earnings figures, shared in Pattern’s IPO filings, reflecting the company’s revenues up some 35% in the first half of this year. Pattern reported net income of $47 million in the first six months of 2025 on revenue of $1.14 billion compared with net income of $35 million on revenue of $841 million during the same period last year.
In a 2019 Deseret News interview, Alder said the tools and technologies developed by Pattern help companies solve the essential challenge of getting seen and heard in an ever noisier digital marketplace.
“Oftentimes, companies get really good at developing products and the stories that go with them but struggle with grasping the math and science that you need to excel in the e-commerce world,” Alder said. “And sometimes, great products lose out to inferior competitors who are just better with the math.
“At Pattern, we help our partners create a powerful marriage of their products with the best data science and market knowledge.”
The company says utilizing an e-commerce accelerator “is becoming table stakes for brands that want to compete globally.”
“These companies utilize proprietary technology and services to help brands quickly capture market share, get up and running on the right global marketplaces, expand their D2C sites, enter new digital channels, and tackle logistics and fulfillment,” the company said in 2021 following a $225 million private equity funding round.
Money to grow
While Pattern was in great shape before its IPO, Wright told the Deseret News the company had $215 million in cash and was debt free ahead of the dive into the public markets. The new capital infusion accommodates paying off earlier investors and building coffers that will help drive further product development and market expansion plans.
Wright said the company will continue to make innovation a priority in an e-commerce sector that’s increasingly aiming to leverage artificial intelligence tools. Pattern’s expertise at technology development is well established. The company boasts an engineering unit that’s accrued 29 issued patents and patents pending and currently includes some 400 software engineers, data scientists and other technology professionals.