- aCommerce founders weigh $200M-$300M share sale of Thai e-commerce firm.
- CEO Srivorakul mum on capital raising, notes Q4 net profit.
- Company’s merchandise value up 18.6% in 2023, beating industry.
Commerce conundrum
According to Bloomberg sources, the founders of aCommerce Group, a Thailand-based firm, are considering divesting shares through a deal valuing the company between US$200 million and US$300 million.
Shareholders, including co-founder and CEO Paul Srivorakul, have reportedly contacted potential buyers and engaged a finance consultant for the possible sale.
Cashing out or doubling down?
In a statement to Tech in Asia, Srivorakul refrained from commenting on capital raising or exit initiatives. However, he revealed that aCommerce achieved net income profitability in Q4 2023, following three consecutive quarters of EBITDA breakeven.
Sriborakul highlighted an 18.6% increase in the company’s end-to-end merchandising value in 2023, outpacing the sector’s average.
Established in 2013, aCommerce assists businesses in managing, marketing, and developing their online stores, offering consultation, training, warehousing, and fulfillment services.
The company operates in Indonesia, Thailand, Malaysia, Singapore, and the Philippines, serving major brands like L’Oreal, Adidas, Unilever, and Nescafe. Its investors include NTT Docomo Ventures, KKR-backed Emerald Media, and MDI Ventures.
To read the original article: https://www.techinasia.com/acommerce-might-sell-shares-valued-up-to-300m-report
