Borderfree (BRDR) began trading on the NASDAQ on 21 March 2014

• Update (May 6, 2015) : Borderfree (BRDR) was acquired by Pitney Bowes (PBI) for for $14.00 per share or $395 million in 2015.

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Borderfree Inc. (Nasdaq: BRDR) raised a gross $80 million in an issue of five million shares at $16 per share - the upper end of its offer - at a company value of $488 million, after money. The share price rose 25% in its first day of trading on Friday to $20, giving a market cap of $610 million.

Borderfree was founded in 1999 by Yuval Tal in Israel under the name FiftyOne, as a forex conversion site for retailers. It subsequently expanded its business to become the leader in its field, offering worldwide e-commerce for American retailers. The company is now incorporated in the US and headquartered in New York City, and keeps one of its two R&D centers in Israel. The company has 49 R&D employees, but does not disclose how many are in Israel. Altogether, it has 189 employees.

The IPO's biggest beneficiaries are Borderfree's investors, beginning with Pitango Venture Capital. The IPO reduced its stake in the company from 32.8% to 27.4%, worth $167 million. In second place is Adam Street Partners, which saw its stake narrow to 18.1%, worth $110.5 million.