I see late in the day yesterday we got some buyers finally.
Global-e Online Ltd. (GLBE)
NasdaqGS - NasdaqGS Real Time Price. Currency in USD
$60.85+3.13 (+5.42%)<-------WATCH*
At close: October 28 4:00PM EDT
Global-e Online: Taking a different approach to e-commerce
With an initial public offer (IPO) of $25 per share in May, Global-e has already soared by over 150% in the short time it has been public. The fast-growing e-commerce facilitator is in the early stages of scaling up its unique business model. And that could mean years, if not decades, of long-term growth for investors.
Unlike the typical e-commerce play, which will be some spin on selling goods to consumers, Global-e takes a different approach. It aims to simplify cross-border e-commerce by providing an end-to-end solution designed to help merchants target international customers. Its platform addresses challenges like currency conversion, after-sale support, and regulations (such as taxes and duties) in 200 destination markets.
Second-quarter revenue grew 92% year over year to $57 million. Of the total, 37% came from service fees based on a percentage of the gross merchandise value ($326 million) handled in the period. Fulfillment services represented the remaining 63% of sales. Global-e can maintain its spectacular expansion by leveraging its growing scale and shopping behavior data termed "smart insights" to improve its service for clients.
With management expecting full-year revenue to jump as much as 69% annually to $231 million in full-year 2021,