GigaCloud Technology, which operates a cross-border B2B marketplace for large parcel merchandise, filed on Friday with the SEC to raise up to $30 million in an initial public offering.
GigaCloud provides end-to-end B2B e-commerce solutions for large parcel merchandise, including furniture, home appliances, and fitness equipment. Its global marketplace connects manufacturers, primarily in Asia, with resellers, primarily in the US, Asia, and Europe. The company allows customers to execute cross-border transactions, transporting products from the manufacturer's warehouse to end customers at a fixed price.
The Hong Kong-based company was founded in 2006 and booked $432 million in revenue for the 12 months ended March 31, 2022. It plans to list on the Nasdaq under the symbol GCT. GigaCloud Technology filed confidentially on May 24, 2021. Aegis Capital Corp. is the sole bookrunner on the deal. No pricing terms were disclosed.
