May 2026
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Largest RetailTech Public Companies in Poland
Benchmark revenue and EBITDA valuation multiples for public comps like
Allegro, Modivo, Wirtualna Polska, Shoper and CStore.
 | Allegro is a large Polish holding company with a suite of complementary online retail properties including Ceneo (price comparisons), EBilet (live events tickets), We|Do (courier services), and the Mall Group (online and offline retail in adjacent Central European markets). The firm is best known for its eponymous e-commerce marketplace, which generates predominantly third-party product sales across the home and garden, electronics, health and beauty, automotive, and supermarket categories. The operator boasts 45% to 50% share of the Polish e-commerce market by GMV, per our calculations and PWC data, and has built out a suite of ecosystem functionality that includes financial, logistics, and advertising services. | $10 | +3% | $10B | $11B | 3.4x | 11.2x | ||
| Modivo SA operates in the footwear and apparel segment across multiple European markets. The group follows an omnichannel retail model that includes a network of physical stores and e-commerce platforms. Its operations are conducted under several brands, including CCC, HalfPrice, eobuwie.pl, MODIVO, Worldbox, and Boardriders. | $22 | -60% | $2B | $3B | 0.9x | 6.6x | ||
| Wirtualna Polska Holding SA is a holding company based in Poland. It owns and runs internet portals. Its core operations comprise the sale of advertising services on the Internet and operating Internet portals such as . o2, Pudelek, Money.pl, domodi.pl, wakacje.pl, nocowanie.pl, Extradom.pl, totalmoney.pl as well as providing electronic services. Its segment include: Advertising and Subscriptions, Tourism and Consumer finance. | $16 | -26% | $479M | $867M | 1.4x | 5.9x | ||
| Shoper SA is a leader on the Polish market of software vendors for e-commerce in the SaaS model. It enables entrepreneurs to conveniently, quickly and easily set up own online store and conduct sales in the online channel. The comprehensive offer of the company consists of the Shoper platform available as a subscription, allowing for flexible adaptation to the needs of a given client, and a number of services sold in the pay-as-you-grow model, directly correlated with the number of orders or turnover generated through stores on the platform. | $12 | -10% | $341M | $342M | 5.7x | 16.3x | ||
| CStore SA specializes in creating and selling proprietary software for automatically accepting online orders from wholesale customers. Its offered solution operates in the SaaS (Software as a Service) model, where the customers receive access to the full infrastructure - software, updates, server and technical support - as part of the subscription. The company generates revenue from three sources: Licenses and servers (SaaS); Service, customer service; and Dedicated projects. | $2 | -- | $19M | $19M | 8.3x | 32.0x | ||
| Median | $12 | -18% | $479M | $867M | 3.4x | 11.2x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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