5 Fastest Growing E-Commerce Companies in 2024

In this piece, we will take a look at the five fastest growing e-commerce companies in 2024. If you want to learn more about the e-Commerce industry and how it evolved over the years, then you can check out 20 Fastest Growing E-Commerce Companies in 2024.

5. MercadoLibre, Inc. (NASDAQ:MELI)

Latest Annual Revenue Growth: 25.71%

MercadoLibre, Inc. (NASDAQ:MELI) is one of the biggest e-Commerce companies in Latin America. Its $88 billion market cap is reflected by the fact that MercadoLibre, Inc. (NASDAQ:MELI)  has a presence in several high growth regions such as Brazil and Mexico. This allows the firm to position itself in markets that are expected to grow faster than developed, Western economies. Subsequently, it’s also unsurprising that the number of hedge funds that have bought MercadoLibre, Inc. (NASDAQ:MELI)’s shares has also increased over the years. While hedge fund interest peaked during the first quarter of 2021 when the coronavirus pandemic was seeing investors rush into technology companies, it fell over the next couple of quarters.

However, as of Q3 2023 end, the hedge funds seem to be returning to the stock, as the latest data shows that during the period, 76 out of the 910 hedge funds part of Insider Monkey’s database had bought the shares.

4. Global-e Online Ltd. (NASDAQ:GLBE)

Latest Annual Revenue Growth: 28.12%

Global-e Online Ltd. (NASDAQ:GLBE) is an Israeli e-Commerce company headquartered in Petah Tikvah, Israel. It’s one of the more interesting e-Commerce companies on our list, since instead of directly selling products through its platform, Global-e Online Ltd. (NASDAQ:GLBE) allows customers to overcome international borders and make their products available for sale in different countries. February 2024 is proving to be a busy month for a firm, as it has appointed a new European CEO, along with new chief innovation and technology officers.

3. LightInTheBox Holding Co., Ltd. (NYSE:LITB)

Latest Annual Revenue Growth: 29.22%

LightInTheBox Holding Co., Ltd. (NYSE:LITB) is a Singaporean company headquartered in Singapore. With a market capitalization of $112 million, it’s one of the smaller e-Commerce companies on our list. However, despite this, LightInTheBox Holding Co., Ltd. (NYSE:LITB)’s latest twelve month revenues sit at $650 million, and the quarterly results for September marked a 27.5% annual growth.

2. D-Market Elektronik Hizmetler ve Ticaret A.S. (NASDAQ:HEPS)

Latest Annual Revenue Growth: 36.25%

D-Market Elektronik Hizmetler ve Ticaret A.S. (NASDAQ:HEPS), commonly known as Hepsiburada.com, is the first and only European e-Commerce country on our list. It is a Turkish company headquartered in Istanbul, Turkiye. D-Market Elektronik Hizmetler ve Ticaret A.S. (NASDAQ:HEPS) has tens of thousands of merchants on its platform, and the firm’s third quarter results saw a 52% annual growth ensuring that it is one of the fastest growing e-Commerce companies in the world.

1. PDD Holdings Inc. (NASDAQ:PDD)

Latest Annual Revenue Growth: 51.91%

PDD Holdings Inc. (NASDAQ:PDD) is a Chinese firm based out of Dublin, Ireland. The firm is one of the hottest e-Commerce stocks when it comes to the U.S. market. This is because 2024 is seeing PDD Holdings Inc. (NASDAQ:PDD)’s Temu platform step up its efforts to reach American customers. On that front, the firm’s latest attempt to gain market share also generated controversy, after its Super Bowl ads led some to shed light on questionable labor practices in China.

Disclosure: None. You can also take a look at Warren Buffett and Billionaires Are Crazy About These 15 Stocks and 9 Quantum Computing Stocks Billionaires Are Piling Into.