Stitch Fix Inc. (NASDAQ: SFIX) entered the markets with a bang on Friday morning. The company ended up pricing its 8 million shares at $15 per share, with an overallotment option for an additional 1.2 million shares. At this price, the entire offering is valued up to $138 million. However, shares actually entered the market closer to $16.90.

The underwriters for this offering are Goldman Sachs, JPMorgan, Barclays, RBC Capital Markets, Piper Jaffray, Stifel and William Blair.

This company is reinventing the shopping experience by delivering one-to-one personalization to its clients through the combination of data science and human judgment. This combination drives a better client experience and a more powerful business model than either element could deliver independently.

Since its founding in 2011, Stitch Fix has helped millions of clients discover and buy what they love through personalized shipments of apparel, shoes and accessories, hand-selected by Stitch Fix stylists and delivered to clients’ homes.

Clients can choose to schedule automatic shipments or order a shipment on-demand after they fill out a style profile on the website or mobile app. For each shipment, the firm charges clients a styling fee that is credited toward items they purchase. After receiving a shipment, its clients purchase the items they want to keep and return the other items, if any, at no additional charge.

The company intends to use the net proceeds from this offering for general corporate purposes, including working capital, operating expenses and capital expenditures.

Shares of Stitch Fix were last seen up about 17% at $17.55, with a range of $16.56 to $18.53 on day as of 11:30 a.m. Eastern. Also nearly 5 million shares have moved on the day so far.

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