GigaCloud Technology Inc Wins Stevie® Award for Achievement in Growth

Rhea-AI Summary

GigaCloud Technology (Nasdaq: GCT) has been awarded the Silver Stevie® Award in the 'Achievement in Growth' category at the 2024 American Business Awards®. This is the second consecutive year GigaCloud has been recognized, having won a Bronze Stevie® Award last year for 'Fastest Growing Company of the Year.' The award highlights GigaCloud's significant growth and innovation in providing end-to-end B2B solutions for large parcel merchandise. Selected by a panel of over 300 professionals from more than 12,000 entries worldwide, the award places GigaCloud alongside other notable recipients such as IBM and Samsung Electronics America.

CEO Larry Wu attributes this success to the company's unique solutions and the dedication of its team in creating a sustainable and impactful supply chain for bulky items.

Positive

• GigaCloud won the Silver Stevie® Award for 'Achievement in Growth' at the 2024 American Business Awards®.
• This is the second consecutive year that GigaCloud has been recognized by the Stevie® Awards.
• Last year, GigaCloud received a Bronze Stevie® Award for 'Fastest Growing Company of the Year'.
• The company's growth and innovation have been acknowledged by a panel of over 300 professionals.
• GigaCloud is among notable recipients like IBM and Samsung Electronics America.

Negative

• The press release does not provide specific financial metrics or detailed growth figures.
• Winning awards, while positive, does not necessarily translate to immediate financial gains or stock performance.

Marking the Second Consecutive Year of Stevie® Recognition

EL MONTE, Calif., June 11, 2024 (GLOBE NEWSWIRE) -- GigaCloud Technology Inc (Nasdaq: GCT) (“GigaCloud” or the “Company”), a pioneer of global end-to-end B2B technology solutions for large parcel merchandise, today announced its recognition as a Silver Stevie^® Award winner in the “Achievement in Growth” category of the 2024 American Business Awards^®.

This accomplishment marks the second straight year the Company has been honored with a Stevie^® Award, underscoring its commitment to growth and innovation. Last year, GigaCloud received a Bronze Stevie^® Award in the category of “Fastest Growing Company of the Year.” Other recipients of the Stevie^® Awards include IBM, Samsung Electronics America, and Fidelity Investments.

“We are thrilled to be a Stevie^® Award winner two years in a row for our robust growth trajectory,” said Larry Wu, Founder, Chairman and Chief Executive Officer of GigaCloud. “The award is a testament to our team’s dedication and innovation, as we continue to experience record growth across financial and operational metrics. More importantly, this success is indicative of our unique end-to-end solutions, providing a more sustainable and impactful global wholesale supply chain for big and bulky items.”

The American Business Awards^® are the premier business awards program of the Stevie^® Awards, recognizing outstanding performances in the workplace worldwide. The awards receive over 12,000 entries each year from organizations in more than 70 nations. GigaCloud was selected as a Silver Stevie^® Award winner by a panel of more than 300 professionals worldwide in the three-month judging process.

About GigaCloud Technology Inc

GigaCloud Technology Inc is a pioneer of global end-to-end B2B technology solutions for large parcel merchandise. The Company’s B2B ecommerce platform, which it refers to as the “GigaCloud Marketplace,” integrates everything from discovery, payments and logistics tools into one easy-to-use platform. The Company’s global marketplace seamlessly connects manufacturers, primarily in Asia, with resellers, primarily in the U.S., Asia and Europe, to execute cross-border transactions with confidence, speed and efficiency. The Company offers a truly comprehensive solution that transports products from the manufacturer’s warehouse to the end customer’s doorstep, all at one fixed price. The Company first launched its marketplace in January 2019 by focusing on the global furniture market and has since expanded into additional categories such as home appliances and fitness equipment. For more information, please visit the Company’s website: https://investors.gigacloudtech.com/.

About the Stevie Awards

Stevie Awards are conferred in nine programs: the Asia-Pacific Stevie Awards, the German Stevie Awards, the Middle East & North Africa Stevie Awards, The American Business Awards^®, The International Business Awards^®, the Stevie Awards for Great Employers, the Stevie Awards for Women in Business, the Stevie Awards for Sales & Customer Service, and the new Stevie Awards for Technology Excellence. Stevie Awards competitions receive more than 12,000 entries annually from organizations in more than 70 nations. Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about the Stevie Awards at http://www.StevieAwards.com.

Forward-Looking Statements

This press release contains “forward-looking statements”. Forward-looking statements reflect our current view about future events. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “could,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “propose,” “potential,” “continue” or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.

For investor and media inquiries, please contact:

GigaCloud Technology Inc

Investor Relations

Email: ir@gigacloudtech.com

PondelWilkinson, Inc.

Laurie Berman (Investors) – lberman@pondel.com

George Medici (Media) – gmedici@pondel.com

FAQ

What award did GigaCloud Technology (GCT) win in 2024?

GigaCloud Technology won the Silver Stevie® Award for 'Achievement in Growth' at the 2024 American Business Awards®.

How many consecutive years has GigaCloud Technology (GCT) received a Stevie® Award?

GigaCloud Technology has received a Stevie® Award for two consecutive years.

What category did GigaCloud Technology (GCT) win in the 2023 Stevie® Awards?

In 2023, GigaCloud Technology won the Bronze Stevie® Award for 'Fastest Growing Company of the Year'.

What companies were recognized alongside GigaCloud Technology (GCT) in the Stevie® Awards?

Companies such as IBM, Samsung Electronics America, and Fidelity Investments were recognized alongside GigaCloud Technology.

How was GigaCloud Technology (GCT) selected for the Stevie® Award?

GigaCloud Technology was selected by a panel of over 300 professionals from more than 12,000 entries worldwide.