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Vancouver online furniture seller Cymax eyes potential IPO as sales projected to double [Video]

Markus Frind looks out to the water from his 13-acre waterfront property on March 27, 2019.

Lucas Oleniuk/The Globe and Mail

B.C. furniture e-commerce company Cymax Group Inc. is exploring going public as early as next spring, joining a string of Canadian digital companies doing the same as investor demand for tech stocks soars during the pandemic.

Burnaby-based Cymax, controlled by billionaire entrepreneur Markus Frind, has recently met with investment bankers and is in the process of hiring several executives to fill out its management team.

“The strong performance has opened up a lot of strategic options for us, and we’re actively engaged in looking at those options right now,” said Cymax director Andrew Lugsdin, a partner with Framework Ventures, which manages Business Development Bank of Canada’s minority stake in Cymax. “Going public is one of those things we’re looking at. … We’re definitely talking to folks that can help us with that evaluation.”

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Ecommerce

Walmart E-commerce Boss Marc Lore to Leave [Video]

The Jet.com founder joined Walmart in 2016 after it bought his startup and pushed the bricks-and-mortar giant to ramp up its online offerings.

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Ecommerce

American entrepreneur Rachel Tipograph is the co-founder of MikMak, one of the fastest-growing woman-led startups of 2020-21.

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Ecommerce

Former Bachelorette Angie Kent and her Gogglebox partner Yvie Jones star in Ebay’s latest ad, which sees Kent video chat Jones for advice on which clothing items to buy from the platform. CHE Proximity, which was appointed to Ebay’s creative roster a year ago, and 72 And Sunny were not involved with the campaign, which […]