aCommerce Aims for IPO in 2020
Raising funds to develop the unified data platform
Randi Eka - 11 September 2018
aCommerce, along with the fifth anniversary, revealed the plan to release an initial public offering (IPO) by 2020. Later, the fund raised from IPO will be focused on unified data platform development to tighten aCommerce position as a data management partner for top-tier brands in Southeast Asia.
Looking back to when aCommerce first established in 2013 in Thailand, providing an integrated solution as an e-commerce channel (retail solution, marketing, and distribution). In the last five years, the Bangkok-based company has intensified expansion. Aside from Thailand, they're also expanding to Indonesia, the Philippines, Singapore, and Malaysia.
Trusted by brands as big as Unilever, L'Oreal, and HP has made aCommerce grow rapidly, from startup to enterprise. In its fifth year, the company claims to advance by 750%, supporting more than 260 top-tier global brands. Through its service, aCommerce managed to handle 13.19 million orders, with over 1200 employees in 5 offices and 15 logistics center.
Data becomes one of the focus for development in aCommerce. Previously, they also released the data-driven demand generation, such as ecommerceIQ, ReviewIQ, BrandIQ, ChannelIQ, and CustomerIQ. The objective is to help brand optimizing its e-commerce.
"The number of customers data which currently 'floating' is big. The data should be able to be used by everyone for optimization, but nobody has it integrated into one platform," Paul Srivorakul, aCommerce's Group CEO and Co-Founder, said.
He added, "With the capital raised through IPO, aCommerce plans a mission to manage the information and plays a role as a data partner for brands. Our main objective is for brands to come and collect the centralized data of a customer, and finally be able to offer customized products or services for each group targeted."
The mission goes along with a survey conducted by ecommerceIQ. In its result, 25,8% of brands are looking for digital talents with data analytic expertise to support the business strategy. Moreover, data management can be optimized with technology, and aCommerce wants to be involved.
Currently, aCommerce has raised a total funding of $96.5 million (worth IDR 1.4 trillion) from some investors include Emerald Media by KKR, BlueSky, DKSH, InspireVentures, Sinarmas, and NTT Docomo. The latest one was acquired at the end of 2017 in Series B round.
– Original article is in Indonesian, translated by Kristin Siagian