GigaCloud Technology Inc
We are a pioneer of global end-to-end B2B ecommerce solutions for large parcel merchandise. (Incorporated in the Cayman Islands)
Our B2B ecommerce platform, which we refer to as the “GigaCloud Marketplace,” integrates everything from discovery, payments and logistics tools into one easy-to-use platform. Our global marketplace seamlessly connects manufacturers, primarily in Asia, with resellers, primarily in the U.S., Asia and Europe, to execute cross-border transactions with confidence, speed and efficiency. We offer a true comprehensive solution that transports products from the manufacturer’s warehouse to end customers, all at one fixed price. We first launched our marketplace in January 2019 by focusing on the global furniture market and have since expanded into additional categories such as home appliances and fitness equipment. GigaCloud Marketplace is one of the fastest -growing large-parcel B2B marketplaces with over $438.1 million in gross merchandise value (GMV) transacted in our marketplace in the 12 months ended March 31, 2022, up from $414.2 million in GMV transacted in our marketplace in the full year of 2021 and up from $190.5 million in GMV transacted in our marketplace in the full year of 2020.
**Note: Revenue and net income figures are in U.S. dollars for the full year ended Dec. 31, 2021, according to the prospectus. (See revenues and net income in the chart that is part of this IPO Profile.)
We built the GigaCloud Marketplace to democratize access and distribution globally so that manufacturers, who are typically sellers in our marketplace, and online resellers, who are typically buyers in our marketplace, could transact without borders. Manufacturers view our marketplace as an essential sales channel to thousands of online resellers in the U.S. and Europe. Our GigaCloud Marketplace enables manufacturers to deliver their products around the world. Additionally, online resellers may lack the resources and infrastructure to manage a global supply chain and support international distribution. Our integrated ecommerce solutions allow online resellers to offer products and services comparable to those offered by large ecommerce platforms by giving them access to a large and growing catalog of products at wholesale prices, supported by industry-leading global fulfillment capabilities.
To enhance our marketplace experience, we sell our own inventory (1P) through the GigaCloud Marketplace and to and through third-party ecommerce websites, such as Rakuten in Japan, Amazon and Walmart in the U.S., and Wayfair in the U.K.
We have built a cross-border fulfillment network optimized for large parcel products. We operate warehouses in four countries across North America, Europe and Asia. The U.S. is our largest market. We operate 21 large-scale warehouses around the world totaling over 4 million square feet of storage space, cover 11 ports of destination with over 10,000 annual containers, and have an extensive shipping and trucking network via partnerships with major shipping, trucking and freight service providers. By servicing the entire supply chain, we offer sellers and buyers in our marketplace enhanced visibility into product inventory, reducing turnover time and lower transaction costs. On average, we are able to deliver products to end customers within one week of their order and at a fixed rate that is cheaper than standard rates from FedEx and UPS.
(Note: GigaCloud Technology Inc. accelerated its IPO pricing date by one night to Wednesday night, Aug. 17, 2022, and priced its IPO at $12.25 – the top of its $10.25-to-$12.25 range – and increased the deal’s size to 2.94 million shares, up from 2.45 million shares in the prospectus. The IPO raised $36 million. Previously: GigaCloud Trchnology cut the size of its IPO in an F-1/A filing dated July 27, 2022, to 2.45 million shares, down from 3.5 million shares, and kept the price range at $10.25 to $12.25. Under the new terms, the IPO would raise $27.56 million – down 30 percent from its previous estimate of $39.38 million. GigaCloud Technology disclosed terms for its IPO in an F-1/A filing dated July 22, 2022. GigaCloud Technology Inc. filed its F-1 on July 8, 2022, with Aegis Capital Corp. as the sole book-runner; the company filed confidential IPO paperwork with the SEC on May 21, 2021, with BofA Securities and Wells Fargo Advisors as the joint book-runners.)
|Industry:||RETAIL-CATALOG & MAIL-ORDER HOUSES|
|Address||Unit A, 12/F, Shun Ho Tower 24-30 Ice House Street Central Hong Kong|
|Phone Number||+852 2369-8219|
|View Prospectus:||GigaCloud Technology Inc|
|Revenues||$414.2 mil (last 12 months)|
|Net Income||$29.3 mil (last 12 months)|
|Price range||$12.25 - $12.25|
|Est. $ Volume||$36.0 mil|
|Manager / Joint Managers||Aegis Capital|
|Expected To Trade:||8/18/2022|
|Quiet Period Expiration Date:||Available only to Subscribers|
|Lock-Up Period Expiration Date:||Available only to Subscribers|
|SCOOP Rating||Available only to Subscribers|
|Rating Change||Available only to Subscribers|