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GigaCloud Technology Inc (GCT) is a leading provider of global end-to-end B2B ecommerce solutions, specializing in large parcel merchandise. The company facilitates transactions on its GigaCloud Marketplace and sells its inventory both on and off the platform. GCT's operations are enhanced by its strategic acquisitions, which have expanded its product offerings and market reach.
- Product Revenues - Generates revenue through the sale of GCT's inventory, including:
- GigaCloud 1P - Sells inventory directly on the GigaCloud Marketplace.
- Off-platform Ecommerce - Sells inventory through third-party ecommerce websites.
- Product Sales to B - Direct sales to business customers.
- Product Sales to C - Direct sales to consumer customers.
- Service Revenues - Facilitates transactions between sellers and buyers on the GigaCloud Marketplace, offering:
- Last-mile Delivery Service - Provides delivery services to ensure products reach their final destination.
- Warehousing Service - Offers storage solutions for large parcel merchandise.
- Ocean Transportation Service - Manages the shipping of goods across international waters.
- Platform Commission - Earns commission from transactions on the marketplace.
- Packaging Service - Provides packaging solutions for products.
- Others - Includes additional services related to logistics and ecommerce support.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Larry Lei Wu ExecutiveBoard | CEO and Chairman of the Board | None | Larry Lei Wu is the CEO and Chairman of GCT since its inception in 2006. He previously served as the general manager of New Oriental Education & Technology Group Inc.. | View Report → |
Marshall Bernes ExecutiveBoard | Executive Director | None | Marshall Bernes joined GCT in January 2024 as Head of the BaaS Program and became an executive director in November 2024. He is the founder and former CEO of Noble House Home Furnishings LLC. | |
Erica Wei Executive | Interim Chief Financial Officer | None | Erica Wei joined GCT in August 2023 as VP of Finance and became Interim CFO in August 2024. She previously worked at PwC. | |
Iman Schrock Executive | President | None | Iman Schrock has been the President of GCT since July 2022. He has over 17 years of experience in the home furnishings industry. | |
Xin Wan Executive | Chief Technology Officer | None | Xin Wan has been the CTO of GCT since 2014. He previously worked at Aspire Company of China Mobile and Oriental Standard (Beijing) Talent Service Co., Ltd.. | |
Xinyan Hao Executive | Chief Operating Officer | None | Xinyan Hao has been with GCT since October 2010. Specific previous positions within GCT are not detailed in the documents. | |
Frank Lin Board | Director | General Partner at DCM; Board member at Quantasing Group Limited and Kuaishou Technology | Frank Lin has been a director at GCT since November 2006. He is a general partner at DCM and serves on the boards of Quantasing Group Limited and Kuaishou Technology. | |
Jan William Visser Board | Independent Director | Vice President of Global Logistics at doTERRA International; Member of BYU's Global Supply Chain Advisory Board | Jan William Visser joined GCT as an independent director in August 2023. He has extensive experience in logistics and supply chain management. | |
Lorri Kelley Board | Independent Director | Board member at City of Hope, WithIt, and Klaussner Furniture | Lorri Kelley was appointed as an independent director of GCT in August 2023. She has over 30 years of experience in the furniture industry. | |
Zhiwu Chen Board | Independent Director | Independent director at Noah Holdings and Bairong Inc.; Faculty member at University of Hong Kong | Zhiwu Chen has been an independent director at GCT since August 2022 and is the chairman of the audit committee. |
- Given the anticipated increase in ground shipping costs of up to $4.5 million during the holiday season, how do you plan to mitigate the impact on your margins, and will you need to adjust pricing or absorb these costs entirely?
- With the current market softness and economic headwinds affecting demand, how confident are you in achieving sustained revenue growth in the upcoming quarters, and what specific strategies are you implementing to offset potential declines?
- As over half of your 1P supply chain servicing the U.S. market now comes from Southeast Asia, how are you managing risks associated with this diversification, such as supply chain disruptions or increased costs due to geopolitical tensions?
- Noble House is expected to contribute substantially to the bottom line starting in Q3 of 2025; if the newly developed SKUs do not perform as expected, what contingencies are in place, and how might this affect your profitability targets?
- You've noted a decrease in average buyer spending due to onboarding new buyers with lower initial volumes; are there signs that existing buyers are reducing their spending, and how will you ensure that new buyers scale up purchases to offset this trend?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Noble House | 2023 | Completed in October 2023 for approximately $77.6 million paid in cash, this acquisition added six US warehouses, one Canadian facility, significant inventory and technology assets, and expanded GigaCloud’s operations into Canada and India with anticipated breakeven integration by the end of 2024. |
B.T.M Travel and Trading Ltd | 2024 | In January 2024, GigaCloud terminated its Account Control Agreements and acquired 100% equity in B.T.M Travel and Trading Ltd from a nominal shareholder for nominal consideration as part of a restructuring that removed consolidated VIEs by March 31, 2024. |
Comharbor Limited | 2024 | In January 2024, GigaCloud acquired 100% equity in the UK-based Comharbor Limited for nominal consideration through a capital contribution following the termination of its Account Control Agreements, aligning with its VIE restructuring plan. |
Brihome Limited | 2024 | In January 2024, as part of the same restructuring, GigaCloud acquired 100% equity in Brihome Limited—located in the UK and Germany—from its nominal shareholder for nominal consideration via the termination of Account Control Agreements. |
Decobus Handel GmbH | 2024 | In January 2024, GigaCloud acquired 100% equity in the German VIE, Decobus Handel GmbH, for nominal consideration through a capital contribution, contributing to the exit from all consolidated VIEs by March 31, 2024. |
Noble House Home Furnishings LLC | 2023 | Completed on October 31, 2023 for $85 million paid entirely in cash, the acquisition included inventory, warehouse leases, IP assets, and customer contracts, expanding warehouse space, product diversity, and geographic reach into Canada and India, with expected significant revenue contributions. |
Wondersign (Apexis, Inc.) | 2023 | Finalized on November 16, 2023 for a $10.0 million cash consideration, this acquisition of a cloud-based digital signage and e-catalog SaaS provider bolsters GigaCloud’s support for approximately 2,500 storefronts and underpins the launch of its GIGA IQ™ package. |
Recent press releases and 8-K filings for GCT.
- GigaCloud Technology Inc increased its Class A share repurchase program by $16 million, bringing total authorization to $62 million from the previously authorized $46 million.
- The repurchase program runs until August 28, 2025, allowing the company to buy shares through various transaction methods, subject to market conditions and operational factors.