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
-
- 우리금융 "롯데손보 M&A, 과도한 가격 부담 안한다"
- 신한캐피탈, 지속성장 포트폴리오 리밸런싱 체계 강화
- 하나금융, ELS 악재에도 실적 선방…확고한 수익 기반
- 하나금융, 자본비율 하락에도 주주환원 강화 의지
- 국민연금, '역대 최대 1.5조' 출자사업 닻 올렸다
- [도전 직면한 하이브 멀티레이블]하이브, 강한 자율성 보장 '양날의 검' 됐나
- [퍼포먼스&스톡]꺾여버린 기세에…포스코홀딩스, '자사주 소각' 카드 재소환
- [퍼포먼스&스톡]LG엔솔 예견된 실적·주가 하락, 비용 절감 '집중'
- [퍼포먼스&스톡]포스코인터, 컨센서스 웃돌았지만 주가는 '주춤'
- 신한금융, ‘리딩금융’ 재탈환에 주주환원 강화 자신감