Public Comps and Valuation Multiples for Horizontal E-commerce

Benchmark revenue and EBITDA valuation multiples for public comps like
Alibaba Group, Pinduoduo, MercadoLibre, Sea and JD.com.

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Viewing 25 of 44 companies with full data

Company	Market Cap	Enterprise Value	LTM Revenue	EV/LTM Revenue	EV/LTM EBITDA
Alibaba Group	$275B	$270B	$155B	1.7x	15.0x
Pinduoduo	$120B	$56B	$67B	0.8x	3.6x
MercadoLibre	$93B	$100B	$35B	2.8x	25.0x
Sea	$64B	$57B	$27B	2.1x	17.5x
JD.com	$41B	$27B	$196B	0.1x	6.8x
Coupang	$30B	$29B	$36B	0.8x	25.3x
LY Corporation	$19B	$24B	$13B	1.8x	7.4x
Rakuten	$11B	$14B	$17B	0.9x	4.9x
Meesho	$9B	$8.4B	$1.5B	5.8x	(68.5x)
Global-e	$6.4B	$5.9B	$1.1B	5.2x	24.4x
Vishal Mega Mart	$5.3B	$5.4B	$1.4B	3.8x	26.1x
Mango Excellent Media	$4.2B	$3.8B	$2.1B	1.8x	3.6x
momo.com	$2.1B	$2.1B	$3.4B	0.6x	13.4x
Blibli	$2B	$2.1B	-	-	-
Suning.com	$1.6B	$5B	-	-	-
E-MART	$1.4B	$5.8B	$20B	0.3x	4.7x
DeNA	$1.4B	$850M	$922M	0.9x	5.2x
Akso Health	$1.3B	$1.3B	-	-	-
Sailvan Times	$1.2B	$1.1B	$1.9B	0.6x	10.6x
Hepsiburada	$1B	$863M	$2.3B	0.4x	30.0x
Jumia Technologies AG	$805M	$752M	$211M	3.6x	(18.5x)
Chancemate	$786M	$555M	$166M	3.3x	23.8x
SFC Holdings	$730M	$547M	-	-	-
ASKUL	$691M	$836M	$2.5B	0.3x	(23.3x)
THG	$680M	$1.2B	$2.4B	0.5x	9.8x
Hyundai Home Shopping	$662M		-
Bukalapak.com	$553M		$409M
Bed Bath & Beyond	$479M		$1.2B
ZKH Group	$476M		$1.4B
Wish	$421M		-
Fanli Digital Technology	$380M		-
Scroll	$358M		$565M
Kogan.com	$278M		$361M
PChome Online	$167M		-
Baozun	$152M		$1.5B
Bike24	$127M		$356M
HKTV	$108M		-
Raccoon Holdings	$78M		$42M
Gradiant	$72M		-
LightInTheBox	$57M		-
Senshukai	$32M		$274M
Digital Brands Group	$15M		-
Xcel Brands	$8M		$6M
Nihar Info Global	$608K		-