Ayala-backed omnichannel solutions provider etaily has landed in Forbes Asia’s “100 to Watch” list out of the 650 small companies and startups evaluated by the magazine.
“As the Philippines evolved into the fastest growing eCommerce market in ASEAN, etaily thrives in an industry projected to be worth $300 billion by 2025,” said Ayala Corporation in a statement.
Forbes Asia said etaily is among the 100 organizations that address “real-world challenges with fresh thinking and innovative products and services.”
The magazine evaluated each company based on the positive impact on the region or industry, track record of strong revenue growth or ability to attract funding, and promising business models or markets.
Founded in 2020 by a powerhouse team of digital experts, etaily is a one-stop digital solutions provider that makes omnichannel e-commerce easy, fast, and flexible in an increasingly competitive market.
It works on mobile application and online store development, customer analytics, inventory management, and warehousing and fulfillment solutions for online transactions.
“Being featured in Forbes Asia's 100 to Watch is an incredible feat that wouldn’t be possible without the etaily team,” said etaily Chief Executive Officer Alexander Friedhoff.
He noted that, “This recognition embodies one of our core values – One Team. It is a testament to each member's hard work and will push us further to continue our goal to build and enable both local and global brands in the eCommerce landscape.”
According to the Philippines’ e-commerce roadmap, the e-commerce sector could contribute P1.2 trillion to the economy. Friedhoff said etaily will continue strengthening its presence in the Philippines and other parts of the ASEAN region.
“We are proud to share that we produced excellent outcomes with our partner brands this year. We’ve launched Southeast Asia’s 1st instant commerce marketplace with Ayala, deployed the Philippines’ 1st hyperlocal multi-warehousing solution, and continuously helped our partner brands become category leaders during monthly sales campaigns of the top eCommerce platforms. We’re excited to enable and grow with them further,” Friedhoff said.
Ayala Corporation, together with Ayala Malls, acquired a 15 percent stake in etaily in 2021, as part of the Ayala group's strategy to gear up tech businesses for scale and profitability. This year, etaily reported its revenue growth has increased eightfold.
"We congratulate the etaily team for the milestones they have achieved. We're very happy to see that they are continuously expanding their presence in the region," said Ayala Corporation Chief Finance Officer, Chief Risk Officer, and Chief Sustainability Officer Albert de Larrazabal.
He added that, "We're grateful for the chance to support high-potential startups that do not only add value to our portfolio but also share our purpose of doing things for the greater good."