Market Kurly enhances communication with investors The company has moved its IR official to its finance team amid mounting competition
Translated by Kim So-in 공개 2020-02-27 08:00:31
이 기사는 2020년 02월 27일 08:00 thebell 에 표출된 기사입니다.
South Korea’s online grocery store Market Kurly is putting its efforts into enhancing its communication with shareholders amid fiercer competition in the nation’s grocery delivery industry.Market Kurly, which pioneered and is leading the dawn delivery market since 2015, recorded 157 billion won in sales in 2018. Its sales has grown by 52 times in just four years.
Due to huge amount of investment for its dramatic growth, the company’s operating loss has increased every year, from 5.4 billion in 2015 to 8.8 billion won in 2016, 12.4 billion won in 2017 and 33.7 billion won in 2018. The trend is likely to have continued last year as well. According to industry sources, Market Kurly posted sales of 430 billion won and an operating loss of 91 billion won in 2019, up 173 percent and 170 percent respectively compared to the previous year.
In the meanwhile, institutional investors have seemingly sought to sell their stake in the online grocery store since the second half of last year. This is because the strength of Market Kurly has weakened due to mounting competition from e-commerce companies and traditional retailers that have been rushing to roll out dawn delivery services.
Coupang rolled out its dawn delivery service in 2018 and SSG.com, the online shopping mall of Shinsegae Group followed suit. Home shopping companies, including GS and CJ also joined the dawn delivery fresh food delivery race. Against this backdrop, the company seeks to attract additional money to maintain its competitiveness and position in the industry.
Retail giants’ entrance to the market has had an impact on the Market Kurly’s valuation. The online grocery store raised funds from China-based financial investors including Sequoia Capital China and Hillhouse Capital mid-2019 at a valuation of mid-5oo billion won. Six months later, many shareholders tried to sell the company’s shares on the over the counter (OTC) market at 20 thousand won level per share. This makes Market Kury’s valuation drop to mid-to-high 400 billion won.
If such movement continues, Market Kurly is expected to face difficulties in proceeding with its plan to raise additional funds. Accordingly, the company has moved its Investor Relations (IR) official to its finance team so that the company can improve its communication with investors and attract new investments.
“Markey Kurly is putting efforts into carrying out its shareholder friendly policy to keep investors from selling its shares,” said an industry insider.
“Our finance team has been responsible for responding to requests for information disclosure. We moved our IR professional to the finance team for more nimble and professional response. We expect this will facilitate smooth communication with shareholder,” said a Market Kurly official.
(By reporter Kim Seon-ho)
< 저작권자 ⓒ 자본시장 미디어 'thebell', 무단 전재, 재배포 및 AI학습 이용 금지 >
관련기사
best clicks
최신뉴스 in 전체기사
-
- '재무개선' AJ네트웍스, 조달비용 '확' 낮췄다
- '9년만에 엑시트' 한앤코, 한온시스템 거래구조 살펴보니
- 한국타이어앤테크놀로지, 한온시스템 인수한다
- [수술대 오른 커넥트웨이브]2대주주 지분매입 나선 MBK, 주식교환 카드 꺼냈다
- [이사회 모니터]이재용 에이비프로바이오 대표, 바이오·반도체 신사업 '드라이브'
- 와이투솔루션, 주인 바뀌어도 '신약' 중심엔 美 합작사 '룩사'
- 아이티센, 부산디지털자산거래소 본격 출범
- 아이에스시, AI·데이터센터 수주 증가에 '날개'
- [이사회 모니터]서정학 IBK증권 대표, ESG위원회도 참여 '영향력 확대'
- SW클라우드 '10주년' 폴라리스오피스, “초격차 밸류업”