Big news on Austin-based tech startup Bigcommerce, who recently announced the appointment of Brent Bellm, former executive of Paypal Europe and Home Away as its new Chief Executive Officer (CEO), hitting e-commerce businesses with a big bang.

The move was highly welcomed by Bigcommerce co-founder, Eddie Machaalani, who reportedly paved the way for Bellm's position by stepping down as Bigcommerce CEO. Machaalani will remain as Executive Chairman of the Board.

In an internal email obtained by Mashable, Machaalani commented that Bellm's leadership will lead the Bigcommerce to great heights in terms of revenue growth.

"Brent shares in Bigcommerce's vision to democratize commerce for high-growth brands that are challenging the giants in their industries," Machaalani said."Brent is the right leader to oversee our next stage of growth and ensure we are meeting the needs of today's merchants and building a premium platform", he added.

Machaalani believes Brent has an implausible background to build, scale and grow fast companies that can lead markets and win.

Bellm had made an impressive mark on HomeAway's 2011 IPO, during his stint as president and COO of the company. Prior to this position, Bellm had also previously worked for Paypal for more than seven years under various leadership roles.

The Australian tech startup reportedly has 95,000 platform brands with emphasis and focus on "enterprise products" as it plans to gain a huge volume of retailers, competing with rivals Shopify and Magento on the e-commerce side of business.

Sources indicate that Bigcommerce has come up with $125 million in accumulated funding from various firms and businesses including Telstra Ventures, American Express, Softbank Capital, Revolution Growth and General Catalyst as it gets ahead with its IPO.