Webuy Global Ltd

Earnings data Q2 2024

Webuy Global Ltd. engages in an e-commerce retailer with a focus on groceries and travel. Its social e-commerce community platform focuses on achieving a global reach and currently operates in Singapore and Indonesia. The company was founded by Bin Xue and Ting Ting Tan in August 2019 and is headquartered in Singapore.

Strategic acquisition intended to expand the company's foothold in Indonesia and SE Asia TSU generated sales of approximately $15 million in 2022 with track record of profitability Singapore , Dec. 06, 2023 (GLOBE NEWSWIRE) -- Webuy Global Ltd (Nasdaq: WBUY) (“Webuy” or the “Company”), an emerging community e-commerce retailer with a focus on grocery and travel in Southeast Asia, today announced it has entered into a non-binding Memorandum of Understanding (“MOU”) to acquire controlling interest in PT. Tiga Sakti Utama (“TSU”), a leading importer and wholesaler of fruits in Surabaya, Indonesia.

Webuy Global Announces MOU to Acquire PT. Tiga Sakti Utama (TSU), a Leading Indonesian Fruit Importer and Wholesaler in Surabaya, Indonesia

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Both the calendar and the pipeline saw some movement this past week. Two large IPOs launched, one of which also priced, and two sizable deals submitted new filings. Eight IPOs submitted initial filings, led by three sizable names. Mach Natural Resources is currently the only IPO scheduled for the week ahead, although some small issuers may join the calendar late.

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Singapore, Oct. 20, 2023 (GLOBE NEWSWIRE) -- Webuy Global Ltd (Nasdaq: WBUY) (“Webuy” or the “Company”), a Southeast Asian community e-commerce retailer, today announced that it has closed its initial public offering of 3,800,000 ordinary shares at a public offering price of $4.00 per share, for aggregate gross proceeds of approximately $15.2 million, prior to deducting underwriting discounts and other offering expenses.

Webuy Global Limited Announces Closing of $15.2 Million Initial Public Offering

Webuy Global (NASDAQ: WBUY ) stock is falling on Friday following the e-commerce company's initial public offering (IPO) yesterday. Shares of WBUY stock initially jumped 33.5% during its first day of trading.

Why is Webuy Global (WBUY) Stock Down 29% Today?

Singapore, Oct. 18, 2023 (GLOBE NEWSWIRE) -- Webuy Global Ltd (Nasdaq: WBUY) (“Webuy” or the “Company”), a Southeast Asian community e-commerce retailer, today announced the pricing of its initial public offering of 3,800,000 ordinary shares at a public offering price of $4.00 per share for aggregate gross proceeds of approximately $15.2 million, prior to deducting underwriting discounts and offering expenses.

Webuy Global Limited Announces Pricing of $15.2 Million Initial Public Offering

WeBuy is going public, offering 3.5 million ADS shares at an indicated price range of $4.00-4.50 to raise up to $17.1 million. The company's rapid revenue growth may not be sustainable due to the one-off effect of lockdowns and social distancing regulations during the pandemic. WeBuy faces mounting risks in execution, including competition from larger competitors in the social commerce market in Southeast Asia.

WeBuy: Aggressively Undercutting The Competition

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The month of May started off with two large IPOs, Kenvue and ACELYRIN. Two blank check IPOs also priced this past week.

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WeBuy Global Ltd. has filed proposed terms for an $8 million U.S. IPO. The firm operates a group purchasing e-commerce platform in Southeast Asia.

News for Webuy Global Ltd Stock (WBUY)