(Bloomberg) -- E-commerce fulfillment service provider ShipBob Inc. has chosen JPMorgan Chase & Co. to lead its planned initial public offering, people familiar with the situation said. 

Chicago-based ShipBob has also tapped Citigroup Inc. as part of the syndicate, the people said, asking not to be identified as the information is private. A listing may take place as soon as late this year and could value the company at about $4 billion, they said. 

Details such as the IPO timing and valuation of the company may still change, the people said. A representative for ShipBob didn’t respond to requests for comment. Representatives for JPMorgan and Citigroup declined to comment. 

A listing would see ShipBob join the growing cohort of companies going public in the US as a two-year IPO slump comes to an end. Companies have raised around $12.1 billion in IPOs on US exchanges so far this year, more than three times the amount from the same period in 2023, according to data compiled by Bloomberg.

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Founded in 2014, ShipBob provides software and other services to help e-commerce companies improve operations. It has a network of more than 50 fulfillment centers in the US, Canada, the UK, Europe and Australia, a recent statement showed. The company’s products integrate with online shopping giants such as Amazon.com Inc., Shopify Inc. and Walmart Inc. 

ShipBob raised $200 million in a Series E funding round in 2021, led by Bain Capital Ventures and with participation from SoftBank Vision Fund, according to a statement at the time. The round brought its total funds raised to $330.5 million and pushed its valuation above the $1 billion mark, the statement showed. 

--With assistance from Katie Roof.

(Updates with context in fourth and fifth paragraphs.)

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