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Avalara goes public on the NYSE

Tax software company Avalara began trading on the New York Stock Exchange (NYSE) on June 15.

The provider of cloud-based tax compliance automation has a $1.36B initial market cap, and a proposed maximum aggregate offering price of $181.1M. The decision in the upcoming Wayfair case could have a big impact on share price.

The company serves more than 20,000 customers and generated revenues of $213.2M in 2017, up 27% from 2016.

Goldman Sachs, J.P. Morgan and BofA Merrill Lynch were the joint bookrunners on the deal.

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