Crescendo-backed Qxpress generates record revenue Significant growth in revenue attributable to logistics firm’s expanded customer base
Translated by Ryu Ho-joung 공개 2021-04-12 08:20:08
이 기사는 2021년 04월 12일 08:17 thebell 에 표출된 기사입니다.
Qxpress, which is backed by Crescendo Equity Partners, generated record revenue last year as the logistics company expanded its customer base to include global ecommerce giants.The company’s revenue rose to 149.4 billion won ($133.7 million) in 2020, up 92% from a year earlier, and its parcel delivery volume more than doubled to 32.8 million boxes in the same period.
The surge in performance is largely attributable to the company’s expanded customer base. Since it was launched by Qoo10 founder Ku Young-bae in 2011, Qxpress had fulfilled orders from the Singapore-based ecommerce platform, but two years ago, it started to provide third-party logistics services to other businesses.
It counts Amazon, eBay and Coupang among its customers, with operations in South Korea, Singapore, Japan, the U.S, China and Indonesia.
Qxpress offers comprehensive logistics services from storage to packaging, delivery and inventory management. It is the only company in South Korea that provides fully automated logistics solutions, which help enhance warehouse efficiency and delivery accuracy while reducing costs.
Crescendo acquired 21.2% of the logistics company for 60 billion won in 2019. Last year, it also bought automation software startup Soft Motions & Robotics, whose motion control solutions are expected to be used to further upgrade Qxpress’s automated warehousing and delivery systems.
Backed by venture capitalist Peter Thiel, Crescendo was established in 2012 and is led by founding partner Kevin Lee. It targets mid-market companies with a focus on growth investments. The firm is raising a new fund with a target of 500 billion won. (Reporting by Si-eun Park)
< 저작권자 ⓒ 자본시장 미디어 'thebell', 무단 전재, 재배포 및 AI학습 이용 금지 >
best clicks
최신뉴스 in 전체기사
-
- [한미 오너가 분쟁]새 경영진 임종윤·종훈 형제의 일성 "네버 어게인"
- JB금융, 얼라인에 판정승…이사회 2석만 내주며 선방
- [Company Watch]'TGV 첫 양산' 필옵틱스, 글라스 패키지 시장 선점
- 폴라리스오피스, 한국 AI PC 얼라이언스 참여
- 이에이트, 생성형 AI 접목 '스마트 팩토리 솔루션' 공개
- 일반석서 주총 관람한 한채양 이마트 대표, ‘책임경영’ 의지 피력
- AI매틱스-한국교통안전공단, AI 기반 버스 사고 예방 MOU
- [한미 오너가 분쟁]'임종윤·종훈' 형제의 승리, OCI-한미 통합 결렬
- 휴온스 이사회 입성한 오너3세, 경영 참여는 'NO'
- 필옵틱스, 업계 첫 TGV 양산 장비 공급