Wildberries Market does not plan to go public, although the company periodically receives IPO offers from banks, Wildberries founder and CEO Tatyana Bakalchuk said in an interview with RBC.
According to Bakalchuk, a Wildberries IPO is “the wrong development path.” The market’s CEO noted that public companies in their business aim to make shareholders happy, “no matter how big or small.”
“And we are working to improve the lives of millions of people. “They are slightly different things,” Bakalchuk said.
He added that the business in the current format is more profitable for the clients themselves. By operating as a private company, Wildberries will bring “many more benefits to everyone.”
Now the company exists at the expense of its own and borrowed funds, these are short-term bank loans, says the head of the market.
“In the current situation, when it is not clear what is happening with rates, we are considering other financial instruments,” Bakalchuk explained.
At the same time, he stressed that it is now definitely impossible to exclude the possibility of an IPO.
As Andrey Krivenko, founder of retailer Vkusville, noted in an interview with technology entrepreneur Maxim Spiridonov, the market in Russia could soon face a disruptive effect.
Author:
Natalia Gormaleva
Source: RB
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