TOPLINE Ninja Van is a logistics company that uses motorbikes, boats, and even buffaloes to deliver millions of packages per day across Southeast Asia. According to the Financial Times, the company is considering an IPO in 2022, after being valued at $1 billion.
KEY POINTS
- Ninja Van, a logistics company, can deliver to the faraway areas which many big corporations find difficult.
- The companny daily deliveries have still increased by 150% in the last 12 months, even at the peak of the pandemic.
- Ninja Van is preparing for the IPO process after being valued at 1 Billion USD.
ARTICLE
A special logistics company
With 34,000 employees and 1,800 sorting stations, the seven-year-old company can deliver goods to thousands of small cities and remote villages in Southeast Asia, where international shipping companies find difficult to access.
Ninja Van makes use of technology to provide merchants control over their operations. Customers can also track orders using third-party networks such as Facebook.
Karen Almenana, manager of a Ninja Van cargo terminal in Cagayan de Oro, Philippines, said her daily deliveries have increased by 150% in the last 12 months.
Her delivery personnel must travel across unpaved mountains, rice fields, the sea, and even through storms. She shared that a delivery person had to ride a buffalo over challenging terrain.
“Delivery workers were examined for “hand-eye coordination” and their ability to balance packages in difficult circumstances”, Ms. Almenana added.
Anna Manatnant, a 29-year-old Thai citizen who sells secondhand shoes and items on Instagram and Shopee, said she chose this delivery supplier because of the affordable prices and excellent customer service.
The company is once received investment from Facebook co-founder Eduardo Saverin’s B Capital fund. Its revenue and order volume surged thanks to the Southeast Asian e-commerce boom generated by 400 million Internet users.
The Plan to IPO in 2022
Regardless of the blockage or social distancing orders, the company’s daily delivery orders climbed from one million in May 2020 to 1.7 million in July 2021. According to Mr. Chang Wen Lei, a co-founder of Ninja Van, the company was “a year away from its IPO aim”.
According to two reliable sources, Ninja Van has begun working with advisers to prepare for the IPO. The United States is a viable listing market option.
Ninja Van declined to disclose its worth, but a source said the company has reached the $1 billion mark following a $279 million financing round last year. It is currently approaching the breakeven point and will be profitable by 2022.
Mr. Lai Chang Wen stated in May 2020, after receiving USD 279 million, that the additional investment would assist in strengthening Ninja Van’s fast delivery business in Southeast Asia. According to Tech in Asia, the company also expressed a wish to expand into the B2B market.
Van Anh
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