By Andra Beltz
eMAG, the largest player in online retail in Romania, has been valued at $ 1 billion. It is the second company in Romania to achieve unicorn status this year after UiPath.
“We confirm that according to analysts who follow Naspers’ evolution, eMAG is a $ 1 billion business. The Naspers Group is pleased with the progress made by Iulian Stanciu (eMag CEO) and the eMAG team in building a top eCommerce group in region, “said the representatives of the Naspers group in South Africa, one of the most powerful eCommerce groups in the world, which is the majority shareholder of eMAG in 2011.
Iulian Stanciu, CEO and minority shareholder of eMAG.ro, says that “the value of the company is influenced by several factors: the growth rate, how we improve profitability and cash-flow, diversification (categories, countries, services) we do not have the direct goal of increasing the value of the company, this is rather a consequence, so we have no plans to do so. I hope things are going well, we can offer better services to our customers so , soon to talk about more billions, certainly for 17 years, “Stanciu told wall-street.ro.
eMAG has operations in Romania, Hungary, Bulgaria and Poland.
eMAG Romania had a turnover of 2.58 billion lei, an increase of 28% from year to year. Dante International, which manages eMAG Romania, Bulgaria and Hungary, had a turnover of 3.31 billion lei. The entire eMAG group, with Fashion Days, PC Garage and other businesses, has gone over 4 billion lei turnover last year.
In the summer of this year, Iulian Stanciu, eMAG CEO, stated that for 2018, eMAG expects a 20% turnover growth in Romania. In addition, the eMag group will reach profit in two years, according to Iulian Stanciu, CEO of the group.
Just one week before Black Friday 2018, eMAG inaugurated a new warehouse. Situated in the village of Bâcu, in the commune of Joita, Giurgiu County, the warehouse is absolutely enormous – the largest in this region of Europe. The investment was one, and eMAG plans to open a similar deposit in the coming years, with the total value of these two centers rising to about 60 million euros.
In the spring of this year, UiPath, a automation software company, was valued at $ 1 billion, becoming the first Romanian unicorn. UiPath is a company that has so far invested $ 265 million and has been valued at $ 3 billion.
By Andra Beltz