AUSTIN - BigCommerce (NASDAQ: BIGC), a notable player in the SaaS ecommerce space, has announced the hiring of Travis Hess (NYSE:HES) as its new president. Hess, a seasoned leader with a background in e-commerce and technology, is set to spearhead BigCommerce's go-to-market strategy, focusing on accelerating growth and profitability.
Hess brings to the table over 15 years of experience, having held senior roles at several leading commerce agencies and consultancies. His most recent tenure was at Accenture (NYSE:ACN), where he led the direct-to-consumer commerce offering and managed the global Shopify (NYSE:SHOP) partnership. Hess has also served on advisory boards for Shopify, Klaviyo (NYSE:KVYO), SAP/Hybris, and Rackspace, and was recognized in 2022 as one of the 30 Most Influential in E-commerce by Signifyd.
In his new role, Hess will oversee the operations that market, sell, and service BigCommerce's platform, as well as manage professional services and agency partner relationships. His appointment is part of BigCommerce's broader initiative to expand its global strategic and operational capabilities.
BigCommerce's CEO, Brent Bellm, praised Hess's extensive knowledge of the e-commerce ecosystem and expressed confidence in Hess's ability to position BigCommerce as a leading enterprise platform. Hess himself expressed enthusiasm for contributing to the company's differentiation and capturing market share.
Additionally, BigCommerce has strengthened its sales team with Thom Armstrong joining as vice president of Americas enterprise sales. Armstrong, who has nearly 20 years of experience in commerce, content, and payments technology, comes from Stylitics, where he served as senior vice president of sales and GTM.
This strategic bolstering of BigCommerce's leadership team comes at a time when the company is keen on expanding its presence in the enterprise e-commerce market. The company's platform is trusted by tens of thousands of B2C and B2B companies in over 150 countries, catering to a diverse range of industries.
The information in this article is based on a press release statement from BigCommerce.
InvestingPro Insights
As BigCommerce (NASDAQ: BIGC) welcomes Travis Hess to guide its growth strategy, investors may find it particularly relevant to consider the company's current financial health and market performance. With Hess's focus on profitability, observing recent financial metrics from InvestingPro provides a clearer picture of the challenges and opportunities ahead.
One of the standout InvestingPro Data points is BigCommerce's impressive gross profit margin, which stands at 76.02% for the last twelve months as of Q4 2023. This indicates that the company is effective at controlling the cost of goods sold and has a strong pricing strategy for its SaaS offerings. However, despite this strength, the company has not been profitable over the last twelve months, with an operating income margin of -18.02%.
Investors should also note that BigCommerce's stock has been trading near its 52-week low, reflecting a price that is 46.82% of its 52-week high. This could potentially represent an attractive entry point for investors, as suggested by one of the InvestingPro Tips, which highlights that analysts predict the company will be profitable this year.
Lastly, BigCommerce's liquid assets exceed its short-term obligations, which may provide a buffer for operational flexibility and investment in growth initiatives under Hess's leadership. This financial stability is crucial as the company aims to capture more market share in the competitive enterprise ecommerce space.
For those interested in a deeper analysis, InvestingPro offers additional insights on BigCommerce. There are 9 more InvestingPro Tips available, which can be accessed at https://www.investing.com/pro/BIGC. Readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, providing a comprehensive toolkit for informed investment decisions.
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