Revolve closes its first trading day up 90%

Revolve is entering a crowded e-commerce landscape dominated by Amazon

Revolve Group Inc. shot straight up when it began trading at 10:40 a.m. Eastern, closing its first trading day up more than 90% at $34.65.

Revolve RVLV, +88.89%shares priced at $18, the high-end of the $16-to-$18 range. The company raised $52.2 million in the IPO, through the sale of 2.9 million shares.

Revolve is an e-commerce retailer targeting Gen Z and millennial women between the ages of 19 and 44 years old with an average income of $61,000, according to Jesse Timmermans, the company’s chief financial officer. To reach this group, the company relies on data and a network of more than 2,500 social media influencers.

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