((Automated translation by Reuters, please see disclaimer https://bit.ly/rtrsauto))
French e-commerce startup Mirakl on Tuesday reported a 50% jump in gross merchandise value (GMV) to $8.6 billion for 2023 and its flagship platform recorded its first profit in the fourth quarter.
The company, which raised $555 million in 2021 at a valuation of more than $3.5 billion, has been organizing itself to prepare for a possible initial public offering (IPO).
“While we have structured our company to be IPO ready, a practice that benefits any company through financial discipline and transparency, our current situation does not require immediate capital raising by the through an IPO,” Adrien Nussenbaum, co-chief executive of the company, told Reuters.
Mirakl’s software platform allows companies to sell not only their own brands, but also to select and sell others by linking them together. It integrates with most e-commerce platforms like Shopify, commonly used to create online stores.
The company is backed by companies such as Silverlake, Permira, Elaia Partners and Felix Capital.
Annual recurring revenue grew 20% to $160 million last year.
GMV, a common metric for e-commerce businesses, reached its highest level in November, when it surpassed $1 billion for the month.