E-commerce website CafePress said on Tuesday it will raise $85.5 million through the initial public offering (IPO) of 4.5 million common stock shares, priced $19 apiece.

The shares of the company, known for its popular custom t-shirt printing business, will be traded in the Nasdaq Global Select Market from March 29 under the symbol PRSS.

J.P. Morgan Securities LLC and Jefferies & Company, Inc will be the joint book-running managers for the offering. The co-managers will be Cowen and Company, LLC, Janney Montgomery Scott LLC and Raymond James & Associates, Inc.

Under the offering, the company will sell 2.5 million shares while another 2 million will be offloaded by shareholders. Net proceeds from the offering are expected to be utilized for general corporate purposes such as capital expenditures and working capital.

The company's business model enables people to design their own t-shirts, stickers, coffee mugs and other products and helps sell these in the online market.

The company had made a profit of $3.6 million with revenues of $175 million in 2011. Of late, technology companies with customer-facing initiatives appear to be more inclined to launch IPOs. Among them Angie’s List and Yelp have done extremely well following IPOs. Yelp, whose share is now trading at over $28, had an IPO offer of $15 per share. Angie’s List, which was offered at $13, is now trading at over $19.

Yelp