Wallapop closed the fiscal year of 2024 with a turnover of 101 million euros, which represents an increase of 13% compared to the 89 million billed in the previous year. In addition, the company, immersed in a complicated Naver, points out that it has a consumption model backed by more than 19 million monthly users in southern Europe.
In a statement, the company explains that, during exercise 2024, its operations in the Spanish market already present positive results after having reached the break evena fact that points to the positive evolution of the business. , the year has resulted in 25 million euros of losses, 18% less than in the previous year, mainly as a result of the strategic investments made during the year, among which the development of its platform and the expansion process with focus on Italy and Portugal.
According to the company, the results in terms of billing show the positive situation of the business monetization roads, which continue to increase compared to previous years. Wallapop shipments, the service of e-commerce Intermediary of the company, is the product that generates the most business volume, with a turnover in 2024 of more than 74 million euros, which has increased by 12% compared to the previous year. On the other hand, the visibility services offered to users have generated income of more than 22 million, which represents a 27.6% increase compared to the previous year.
The company considers that these figures are natural for the growth and investment phase in which it is located. The firm explains that, in recent years, it has worked on a strategic plan that seeks to achieve the situation of profitability based on sustained growth, the improvement of margins and the increase in turnover. “Thanks to this strategy, the company expects to achieve profitability in the consolidated ordinary business in the next year,” says Wallapop.
The company defends the aforementioned sale to the South Korean group Naver, a transaction that has generated a wide controversy among the shareholders, even opening a judicial process. Wallapop points out that, after its acquisition by Naver, “operation backed by most shareholders and pending regulatory authorizations, the company will have an additional impulse to accelerate its growth.”
This support, according to Wallapop, will enhance its innovation capacity relying on Naver’s experience in searches, advertising, payments and development of international C2C platforms. At the same time, it will reinforce its technological abilities to maintain leadership and expand its impact on the markets in which it operates.
“The results of the 2024 exercise show a solid company that continues to grow sustainably. Wallapop is a solid and solvent society, which now begins a new and exciting chapter. With the support of Naver, the company will accelerate its growth and capacity for innovation, thus unlocking a great potential to lead the market in southern Europe,” says Rob Cassedy, CEO of Wallap 2024, while adding that “in recent years we have consolidated our position of leaders in the motor segment and we have become the referent into a circular consumption model.”
In an interview with this newspaper, at the beginning of August, the manager stressed that the forecasts for this positive year. “I hope that 2025 is one of the best years in the history of Wallapop. We trust to accelerate both income and growth, and reach the break even of the company as a whole, “he said.
Judicial Front
The operation, in any case, must still be closed. The 14W Fund and other minority shareholders of Wallapop presented a few days ago a demand for the challenge of the agreements of the Board of Directors of the Company on June 16, in which the process of selling the sale of the start-upincluding the right of drag, established in the shareholders pact. The lawsuit was filed in a court in Barcelona, a city where the firm has its headquarters.
In the demand, of more than 50 pages, these investors, who as a whole control about 20% of the capital, affirm that the Board of Directors has not complied with the rules of transparency and neutrality, benefiting a partner, in this case the South Korean group Naver, which had 29% of the capital through Korelle-C-Found, to the detriment of the minorities.
On August 5, Naver announced an agreement to acquire the popular start-up Spanish for sale of Wallapop second -hand products, in a transaction valued at 600 million euros. This valuation had caused, who warned that it was far from the value established in the last Wallapop financing round, in early 2024, of 806 million. In that transaction, in addition, the Office of the Official Credit Institute (ICO), in addition to different minority investors.
