The California-based company expects to face increase opposition from other e-commerce businesses, including Circuit City. Although it went bankrupt not long back, Systemax (the owner of TigerDirect and CompUSA) purchased Circuit City and brought its website back to life.
Newegg's largest shareholder is venture-capital firm Insight Venture Partners, which holds a 12.7% stake in the company after handing it $20 million in 2005. Newegg plans to expand operations in China and Canada with the IPO-raised funds. The IPO is being managed by JP Morgan, Bank of America Merrill Lynch and Citi.