Allegro, one of the biggest players on the Polish e-commerce market, is experiencing a slowdown in its business operations in November.
The report by Google and Dealroom found that Poland had the largest number of companies classified as unicorns, a term meaning that a start-up has risen in value to over $1 billion, with 10 companies. Estonia had six, with Czechia and Ukraine both having four and the rest of the region having a total of 10 unicorns.
Poland's listed e-commerce group Allegro launched the pilot stage of a new fulfillment service on Monday through which selected merchants will be able to store, sell and replenish their merchandise directly from an Allegro warehouse.
Marketed as “the world’s first fully automatic interior design tool”, Lofty have launched at a time when home improvements have enjoyed a pandemic era surge in popularity.
While gold prices have surged and Bitcoin reached a new high price, the Warsaw Stock Exchange had its best year for IPOs.
Allegro, Poland's biggest auction site, which recently debuted on the Warsaw Stock Exchange (WSE), will replace petroleum company Lotos and lender mBank in the MSCI Poland index, MSCI said on its website.
Polish online trading platform Allegro, which has increased employment by 470 since January to 2,400, intends to take on another 200 staff by the end of the year, the company has announced in a press release.
The demand from individual investors far exceeded the availability of shares and while 9.2 million shares were available, raising 400 million PLN, there was demand for 2.65 billion PLN worth of shares.
Polish firm is sole Europe-only operator to make the list, but it may have got too big for its own boots.
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