Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

AliExpress Russia looks at possible IPO, reports $3 billion in transaction volumes

TechnologyApr 07, 2021 04:55AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. The logo of AliExpress is seen inside the company's office in Moscow

By Alexander Marrow

MOSCOW (Reuters) - Online retailer AliExpress Russia on Wednesday said an initial public offering was a possible step for the company, which reported gross merchandise volume (GMV) of $3 billion for the 2020-21 financial year.

A joint venture launched in 2019 with China's Alibaba (NYSE:BABA) and Russian partners, AliExpress Russia operates domestic and cross-border sales.

The company said it now has 29.1 million monthly active users on its online marketplace.

AliExpress Russia did not give a comparison for total GMV, which stood at 229.3 billion roubles ($2.96 billion) for the year to March 31. GMV for its domestic business was up 151% year-on-year at 54.9 billion roubles, the company said.

The COVID-19 pandemic gave a boost to Russia's e-commerce sector as health restrictions kept consumers at home, but AliExpress Russia, which depends on cross-border transactions for more than three quarters of its business, was slower to see the benefit as supply chains adjusted to new travel restrictions.

The company said an IPO was a possible step, but that such a decision was one for its shareholders.

"There are no specific plans for the dates - it may be next year or later," AliExpress Russia said.

CEO Dmitry Sergeev said the company's cross-border business grew in line with Russia's total e-commerce market, which analysts from market research firm Euromonitor put at almost 40% in 2020, and that its domestic business was growing ahead of the market.

Russian e-commerce leader Wildberries has reported full-year GMV in 2020 of 437.2 billion roubles, up 96% year-on-year. Online retailer Ozon, which staged a successful initial public offering (IPO) late last year, reported 144% GMV growth in 2020 at 197.4 billion roubles.

AliExpress Russia said 2020 GMV, not including services, was 209.6 billion roubles, without providing a growth comparison.

The company said it was sticking to a target of annual turnover of $10 billion by 2023, a figure first disclosed in an interview Sergeev gave to Reuters last July.

($1 = 77.5000 roubles)

AliExpress Russia looks at possible IPO, reports $3 billion in transaction volumes
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email