Faire CFO Says IPO Preparation Continues Without a Set Date

Faire Chief Financial Officer Jason Lee is preparing the wholesale marketplace for a potential initial public offering but has given no timetable, after saying in September that the company expected to go public within 12 months.

Lee’s September expectation did not include a specific listing date. In a later interview, he described IPO preparations but gave no timetable.

Founded in 2017, Faire connects independent retailers with brands through an online wholesale marketplace. Its Oct. 6 figures put its Q3 2026 revenue run rate at $730 million, 45% above the year-earlier level. Faire also said it was on pace to facilitate more than $4.5 billion in gross merchandise volume during 2026. Gross merchandise volume measures the value of goods facilitated through a marketplace; it is distinct from the marketplace’s revenue.

Faire CEO and co-founder Max Rhodes said the company had focused too heavily on growth measures. “We got a little addicted to vanity metrics to pump growth,” Rhodes said. The Oct. 6 figures also described profitability as “in sight.”

Faire’s most recently disclosed valuation was $5.2 billion, set when Rhodes announced an employee tender on Nov. 17, 2025.