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VTEX is a technology company operating in the communication services sector, within the interactive media and services industry, focused on the development and delivery of e-commerce solutions.
Founded in Brazil in 2000 by Geraldo Thomaz and Mariano Gomide, the company operates globally and maintains its administrative headquarters in London, United Kingdom. Its solutions are directed toward B2C and B2B companies across various industries.
The company’s foundation was driven by the founders’ perception of the internet’s growth potential and the lack of specialized e-commerce platforms in the Brazilian market.
The Software as a Service (SaaS) model was adopted in the early years, allowing greater flexibility in offering technological solutions and scaling its customer base.
The VTEX portfolio includes customizable e-commerce platforms, marketplace-building solutions and omnichannel integration tools that enable the unified management of multiple sales channels.
Its business model is based on monthly subscription plans with variable fees according to clients’ transaction volume, in addition to complementary services charged at fixed rates.
With a presence in 32 countries and 25 offices, VTEX operates in strategic markets such as Brazil, the United States, Mexico, the United Kingdom and Singapore.
By 2024, the company had developed more than 2,500 online stores for its global client base, which includes multinational corporations and regional companies across different segments.
The company’s market environment is directly influenced by the digital transformation of retail, the expansion of e-commerce and the growing need for integration between physical and digital channels.
Competition includes major global providers of e-commerce platforms such as Shopify and Salesforce Commerce Cloud, as well as regional players.
The operational structure of VTEX consists of approximately 1,600 employees distributed among its headquarters and regional offices. The SaaS model allows continuous updates and cloud-based delivery of solutions, eliminating the need for physical infrastructure in each market.
VTEX shares are traded on the New York Stock Exchange (NYSE) under the ticker VTEX.
History and Foundation of VTEX
VTEX was founded in 2000 in Brazil by Geraldo Thomaz and Mariano Gomide, focused on developing e-commerce solutions during a period of low confidence in the digital market following the dot-com bubble.
In 2005, the company secured its first SaaS client, marking the strategic transition to this service model. In 2007, VTEX began serving Walmart Brazil, a significant milestone for its entry into the large-scale retail market.
Between 2008 and 2011, the number of clients grew from 4 to 232, reflecting the increasing demand for integrated e-commerce platforms. In 2012, the entry of Naspers as an investor enabled the first phase of international expansion, with operations beginning in new Latin American markets.
In 2015, Naspers’ stake was acquired by Riverwood Capital, and in 2019 VTEX received a new investment of USD 140 million from SoftBank, Constellation and Gávea, enabling further acquisitions and the expansion of its international presence.
In 2020, the company conducted its initial public offering (IPO) on the NYSE and received an additional BRL 1.25 billion, part of which was allocated for the acquisition of Workare, Suiteshare and Guava, complementing its portfolio of solutions.
Between 2020 and 2024, VTEX expanded its operations by opening new offices, including in Singapore, increased its client base and adapted its solutions to global e-commerce trends. In 2024, the company reported a market capitalization of USD 1.23 billion and annual revenue of USD 225.91 million.
The expansion of service offerings and the continuous development of new technologies remain central elements of its growth strategy.
Additional Information
The Company Vtex Ordinary Shares (United States), is listed on NYSE with a market cap of $ 817.18 Millions, having an equity of $ 250.26 Millions.
With a total of 236 employees, the company is listed in the sector of Communication Services and categorized in industry of Interactive Media and Services.
In the last 12 months the Company had a revenue of $ 230.47 Millions, which generated a profit in the amount of $ 13.36 Millions.
As for its main indicators, the Company has a P/E ratio of 61.17, a P/BV ratio of 3.27 and in the last 12 months the Company did not pay dividends.
The Company is traded internationally through the ticker VTEX.
