GigaCloud Technology Inc Secures Multiple Wins in Furniture Today’s 2024 Reader Rankings for Second Consecutive Year
Rhea-AI Summary
GigaCloud Technology (Nasdaq: GCT) has been recognized in multiple categories of Furniture Today's 2024 Reader Rankings, including 'Industry's Leading Innovator,' 'Best Ecommerce Technology,' and 'Best Logistics Technology Company.' This marks the second consecutive year of recognition for the company.
The B2B ecommerce platform reported significant operational metrics, including 1,051 active sellers and 8,535 active buyers who generated over $1.2 billion in Marketplace GMV for the twelve months ended September 30, 2024. The company's success is attributed to its SFR model enhanced by advanced logistics solutions and strategic load balancing.
Positive
- Achieved $1.2 billion in Marketplace GMV over 12 months
- Strong marketplace metrics with 1,051 active sellers and 8,535 active buyers
- Industry recognition in multiple categories for second consecutive year
Negative
- None.
News Market Reaction
On the day this news was published, GCT declined 1.35%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
EL MONTE, Calif., Dec. 17, 2024 (GLOBE NEWSWIRE) -- GigaCloud Technology Inc (Nasdaq: GCT) (“GigaCloud” or the “Company”), a pioneer of global end-to-end B2B ecommerce technology solutions for large parcel merchandise, today announced its recognition as a winner in Furniture Today’s 2024 Reader Rankings across multiple categories, including “Industry’s Leading Innovator,” “Best Ecommerce Technology,” and “Best Logistics Technology Company.”
“We are honored to be recognized again by Furniture Today’s Reader Rankings, a powerful validation of GigaCloud's transformative impact on the industry,” said Larry Wu, Founder, Chairman, and Chief Executive Officer. “As we celebrate these notable distinctions, we acknowledge our 1,051 active sellers and 8,535 active buyers—who collectively generated more than
Furniture Today’s annual Reader Rankings invites its readers and industry peers to select organizations for excellence and innovation in the furniture industry in various categories, including finance, logistics, suppliers and technology. Last year, GigaCloud Technology was recognized as “Best Ecommerce Technology” and “Best Logistics Technology Company,” while securing a top-three position in the “Industry’s Leading Innovator” category.
As the leading publication in the furniture industry, Furniture Today provides essential updates on retail and manufacturing news, product trends and market analysis. With its positioning as the “Number One In The Furniture Industry, and Growing In Popularity Daily,” Furniture Today keeps the furniture industry informed and connected.
About GigaCloud Technology Inc
GigaCloud Technology Inc is a pioneer of global end-to-end B2B ecommerce technology solutions for large parcel merchandise. The Company’s B2B ecommerce platform, the “GigaCloud Marketplace,” integrates everything from discovery, payments and logistics tools into one easy-to-use platform. The Company’s 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. GigaCloud offers a comprehensive solution that transports products from the manufacturer’s warehouse to the end customer’s doorstep, all at one fixed price. The Company first launched its marketplace in January 2019 by focusing on the global furniture market and has since expanded into additional categories, including home appliances and fitness equipment. For more information, please visit the Company’s website: https://www.gigacloudtech.com/.
Forward-Looking Statements
This press release contains “forward-looking statements.” Forward-looking statements reflect our current view about future events. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “could,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “propose,” “potential,” “continue” or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.
For investor and media inquiries, please contact:
GigaCloud Technology Inc
Investor Relations
ir@gigacloudtech.com
PondelWilkinson, Inc.
Laurie Berman (Investors) – lberman@pondel.com
George Medici (Media) – gmedici@pondel.com
FAQ
What awards did GigaCloud Technology (GCT) win in Furniture Today's 2024 Reader Rankings?
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