Almost 10 years after it was founded, Australian online retailer Kogan formally announced its intention to go public Thursday.

The initial public offering (IPO) aims to raise at least A$50 million, with a market capitalisation value of A$168 million (US$126 million). According to a letter to investors from founder and CEO Ruslan Kogan, who created the company when he was only 23, the company has never taken any external equity funding.

“I am incredibly proud of Kogan.com’s track record and I believe this sets us apart from our peers,” Kogan wrote. “It also speaks volumes about our culture, which is underscored by high levels of personal responsibility, and demonstrates the strength and sustainability of our business.” Read more…