Matt Koranda: Okay. Last one for me. Just maybe could you speak to how we should think about what Noble does for your marketplace metrics that you report? Particularly curious about sort of how it’s going to impact active buyers and sellers, probably more buyers than sellers in the acquisition. But maybe if you could just speak to how we should think about those metrics on a go-forward basis. They’ve obviously been growing very nicely in the last couple of quarters. But how should we anticipate Noble will impact those key metrics in the fourth quarter and beyond?
Iman Schrock: Sure. I mean Noble House is a very reputable B2B furniture distributor in the US and they have an extensive collection of outdoor and indoor home furnishings across basically the full home segment that includes decor and accessories. So from our standpoint, the GigaCloud Marketplace and our logistics network will help streamline and optimize the sales process, storage and distribution of the product, making the perfect acquisition candidate because it can benefit from our robust network and business strategy. Additionally, like Noble House has extensive sales channels, which will give us a solid foothold and a massive revenue opportunity for our sellers to access on a list of a few like Amazon and Target. And further to that, the Noble House acquisition not only provide us with scale, we need to attract new buyers and sellers, but also it helps us expand our supplier base and give us opportunities to enter into new furniture markets for us, that is India for sourcing, which is going to be a big emphasis going forward in attracting sellers.
And obviously, the Canadian market for B2B commerce as they have a presence in that market as well.
Matt Koranda: Okay, I’ll take the rest from offline. Thanks, guys.
Iman Schrock: Thank you.
Operator: Thank you. We are now going to proceed with our next question. And the questions come from the line of Rommel Dionisio from Aegis Capital. Please ask your question. Your line is opened.
Rommel Dionisio: Good morning. Thanks for taking my question. Could — I wonder — you touched on it a little bit just now, but could you just expand the theme of the cross-selling synergies that you may have with Noble House taking your product line to Canada and their bringing that to some of the US customers and how you guys think about the opportunities there in ’24 and beyond? Thank you.
Iman Schrock: Thank you, Rommel. So basically, with regards to Noble House, we are trying to use the power of the marketplace. That includes all the synergies that I discussed when it comes to logistics, the distribution, the load balancing. But above that, the powerful ways of the supplier fulfilled retailing business model that has been successful for us, as you guys see in the numbers that are provided to you as far as the performance with three quarters of record profitability in its back. We’re trying to use those synergies to turn this operation around and by default, like a lot of SKU diversity will be available on a marketplace, there is a dynamic interaction between sellers and buyers. So the more diversity and newness that you have on the marketplace, it allows you to attract more buyers by the means of giving them more choices and that’s something that we achieved through the Noble House acquisition.
Further to that, we’re talking about scale here. The Noble House will give us the needed scale to basically gain additional market share, while also giving us the chance to tap into their supply chain, which is pretty substantial as far as the number of manufacturing partners that they had, the retail partners that they had, and the two new markets that I mentioned, India for sourcing and then also Canadian B2B commerce.
David Lau: Yeah. Iman, if I can add, I think on the product side, there’s a lot of complementary value that we can extract from the Noble House acquisition. We’re adding around 8,000 SKUs right off the bat. They are in a more — a slightly more premium segment than we are. Their product quality is superb. So there’s a lot of synergies that we can extract by just learning kind of their know-how, their product designs, their QC process, and then we can obviously reflect that from our own 1P business, from our 1P products. So and then on top of all the synergies that Iman alluded, just want to make sure that the product value is being delivered and shared with you all.
Rommel Dionisio: Great. Thanks very much. Congratulations on the acquisitions in the quarter.
David Lau: You’re welcome. Thank you very much.
Operator: Thank you. We are now going to proceed with our next question. And the questions come from the line of [Jimmy J from KFN] (ph). Please ask your question. Your line is open.
Unidentified Analyst: Hi, management. Can you hear me right?
David Lau: Yes.
Unidentified Analyst: Okay. Thank you for giving me the opportunities and congrats on the strong result. I got two questions. So first, still about Noble House deal. Although you talked about it in the remark, can you give us like more color on this deal, like looking forward, what’s management’s action plan to integrate this company into our existing system? Thank you.
