Allocating €160 million in investment for Portugal by Joom
Fresh Take:
Hey there! It's time to hop on the buzz about Joom, an e-commerce powerhouse making waves in Portugal. After setting up shop in the bustling capital, Joom's got some big plans brewing.
Joom's spankin' new digs on Rua Alexandre Herculano, one of the city's main drags, make it a neighbor to WeWork. Spread across two floors, its modern workspace is equipped with work zones, meeting rooms, a fully-stocked kitchen featuring a private barista, and an auditorium.
Aiming to revolutionize global trade, this Latvian e-commerce titan has already rooted its headquarters in Portugal, choosing the European hub for its tech-savvy talent pool. According to the CEO, "We needed a place where people wanted to come".
Joom's Allure to Portugal
Portugal's historical ties to global trade, highlighted by its role in the Discoveries, haven't faded. Instead, they've been replaced by skilled navigators - the new caravels, maps, and astrolabes of the digital age. Joom believes that Portugal's continuous presence in worldwide commerce is what drew them in.
Currently employing 400 individuals, Joom has 160 staffers in Portugal and is set to welcome 50 more team members by year-end.
Joom: A Game Changer in E-commerce
With an €160 million investment, Joom shows it's all in for Portugal's technological progress. By enhancing its e-commerce platform and improving global trade efficiency, Joom plans to lead the way in online commerce. Already, it's slashed logistics costs by 50% through a South Korea-to-Europe channel.
The company intends to keep growing its workforce and market reach, eying Europe as its next target. Expect to see a diverse range of products, from Indian curiosities to Korean K-pop swag, gracing Joom's online shelves soon. If Joom has its way, the future could be an exciting blend of global cultures and seamless online shopping experiences.
Joom's decision to expand its business in Portugal was partially influenced by the country's rich history in global trade and its current tech-savvy workforce. In an effort to further revolutionize finance and commerce, Joom recently invested €160 million to enhance their e-commerce platform and boost technology in Portugal, aiming to lead the way in online business and reduce logistics costs by 50% through international channels, such as a South Korea-to-Europe route.
