Cross-border shipping, checkout, quick delivery: Shiprocket supercharges new biz

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Subscribe to enjoy similar stories. Logistics aggregator Shiprocket is looking to increase investments in its emerging businesses, contributing a fifth of the total revenue, as it gears up to log its first full year of profitability on an adjusted Ebitda level, a top executive said. The Temasek-backed company, which is valued at over $1 billion, will double down on three segments—cross-border shipping, checkout, and quick deliveries, among others—to fuel its next level of growth, at a time when the first two quarters of the current financial year are already profitable on an adjusted Ebitda basis, Saahil Goel, managing director and chief executive officer of Shiprocket, said in an interview with Mint.

For the firm, adjusted Ebitda is earnings before interest, depreciation and taxes, adjusted for employee stock options (Esop) expenses. “Our core business is already profitable and we continue to reinvest the profits into the emerging verticals. These businesses together, which used to be very miniscule years ago, already account for a fifth of the total revenue," Goel said.

Also Read: Saahil Goel of Shiprocket: The delivery guy Launched in 2017, Shiprocket aggregates third-party logistics players like Delhivery, FedEx, Blue Dart, and Shadowfax to fulfill orders for large corporations and small and medium businesses. To date, it has raised upwards of $233 million from Temasek, Lightrock, Bertelsmann, and listed food delivery player Zomato, among others. It joined the coveted unicorn club in 2022 after raising $32 million.