Forget jingle bells. It's time to ring the IPO bells! aCommerce has just filed for an IPO in its home country, Thailand. If it's a go, aCommerce will be one of the first Thai startups to go public locally.

• It plans to sell up to 40% of its shares and potentially raise over $200M.
• It has over 173 customers, including Microsoft, L'Oréal, Adidas, Samsung and UNIQLO.
• It is active in Thailand, the Philippines, Indonesia, Singapore and Malaysia.

🛍 Powering e-commerce

As an e-commerce enabler, it makes it easy for brands big and small to sell online all over Southeast Asia.

Webstore development and operations. They can build your e-commerce website and manage your brand's shops on Lazada, Shopee, JD.com and more.

• It creates discounts, promotions and campaigns based on data.
• Its studios can shoot images, write copy and post all your products.

Strategy and marketing. Whether it's SEO, Facebook, email marketing or improving your website — its digital marketing experts have got you.

• Get an expert-backed strategy to launch in SEA with a localized strategy for each country.
• With their data analytics, you'll understand what's not working and what to double down on.

Store and deliver products. With its tech, you'll get the best deals for every delivery. Plus, you'll get access to its warehouses in SEA and be able to offer COD and delivery tracking.

• Its AI chooses the best rates among SEA's couriers for your deliveries in real-time.

💰 Back to the IPO

aCommerce may be in for a challenge as it preps to go public. It's been making losses since 2018, so we'll have to see if investors will bite.

• In the first nine months of 2021, it's made a loss of $15M from $188M in revenue.

Zoom out. SEA's local exchanges have been pushing startups to list locally instead of heading to the US. But, the region's startups may need more than just stellar debuts (sorry, Bukalapak) and tax incentives before finding more value in listing at home.