GigaCloud Technology operates a B2B ecommerce marketplace — the GigaCloud Marketplace — that connects Asian manufacturers with resellers in the U.S., Europe, and Japan trading large parcel merchandise like furniture, home appliances, and fitness equipment. The core value proposition is handling the entire transaction chain — product discovery, payments, ocean freight, drayage, warehousing, and last-mile delivery — at a fixed, all-in price, solving the logistical complexity of cross-border large parcel trade for both sides. GigaCloud generates revenue in two ways. First, its 3P marketplace business charges sellers and buyers for each step of logistics and fulfillment, plus a platform commission. Second, GigaCloud buys and sells its own inventory (1P), both within its marketplace and through third-party ecommerce platforms like Amazon, Wayfair, and Walmart. In FY25, 1P revenues accounted for roughly two-thirds of total revenues, with 3P service revenues making up the remainder. Key margin drivers include ocean freight rates (GigaCloud uses fixed-rate contracts), tariffs on sourced goods from China, Vietnam, and Malaysia, and warehouse utilization across its 35 fulfillment centers. GigaCloud's growth strategy focuses on marketplace network effects, geographic expansion into Europe, and M&A to bridge its digital marketplace with physical retail channels — recent acquisitions include Noble House (furniture distributor), Wondersign (retail sales enablement software), and New Classic (a wholesaler with over 1,000 brick-and-mortar retailer relationships).