Cracco, the global e-retailer that has been struggling for years to grow its business, has surpassed $1 billion in annual revenue and will become the largest e-tailer by volume in the world, according to a report from Thomson Reuters.
Cracco had previously reported revenue of $900 million for the year ending in June and $1.5 billion for the quarter ended in May.
The e-marketing company has struggled to grow at all during the past decade, with sales stagnating for most of the decade and revenue declining by more than 80% between 2006 and 2016.
Its growth has slowed in the past year as the company has faced competition from Amazon, Apple and Google.
Cracia, which is owned by global ecommerce giant Amazon, was founded in 2008 and has since grown to be the world’s third-largest e-seller after eBay and Amazon.
It sells a wide range of goods online and through its online store.
Amazon has a major presence in the US, where Cracia has offices.
Cracea has been one of the best-selling e-stores in the UK, where it has a market share of around 2.5%.
Cracia’s ecommerce business has seen rapid growth since its inception.
Cracos e-store was launched in 2011 and has now grown to reach more than 1.5 million items and more than 6 million items per month.
Craca is currently expanding its e-business and is now operating on an additional $1 million in funding, according the report.
Craco’s revenue grew by a whopping 88% in the last quarter of 2018 and the company is also investing in more mobile-friendly platforms.
The company recently announced it would expand into India, where its store is located.
Craciota’s revenue growth has been so rapid that Cracia said it was losing market share to Amazon in 2018.
Amazon’s Alexa has become a huge hit for Cracia as its products and services are used by millions of people across the world.
Alexa was the No. 1 most-watched television show in 2018 with an average of more than 15 million views per episode.
Amazon had about 2 million Alexa users in the United States, according Cracia.
Amazon owns about 70% of Cracia.
Crácia, Craco and Amazon are all owned by French multinational SoftBank Group Corp. Cracio’s chief executive officer, Pierre Bouchard, said in a statement that the company had been “the first to realize the potential of Alexa as a platform” and would “continue to make the most of it.”
SoftBank’s investment in Cracia is the largest ever by a Chinese e-tailing company.