Since 2021, the French unicorn Mirakl, a software publisher specializing in the creation and management of marketplaces, has chosen to share its results. In 2024, it recorded a 30% growth in its gross merchandise volume, reaching 11.2 billion dollars, as well as an annual recurring revenue of 177 million dollars. While the profitability achieved on Mirakl Platform underscores the solidity of its initial model, the company is expanding its scope beyond marketplaces to become a more global e-commerce technology provider.
Founded in 2012 by Adrien Nussenbaum and Philippe Corrot, Mirakl is a major player in e-commerce, specializing in the development of SaaS solutions for B2C and B2B companies. The company first built its reputation by offering marketplace and dropshipping platforms, enabling companies to expand their product offerings without managing inventory. Today, Mirakl continues its expansion by massively integrating AI into its solutions, transforming its model to meet the new demands of online commerce.
The company doubled its AI investments last year, using it to optimize catalog management (Catalog Transformer), simplify payments (Mirakl Payout), and improve advertising performance (Mirakl Ads).
Philippe Corrot, co-founder and co-CEO of Mirakl, states:
"AI is at the core of everything we do at Mirakl. It is not just a simple tool; it is a transformative force that redefines how businesses operate and grow. By integrating AI across all our solutions and optimizing advanced models like Meta's Llama, OpenAI's ChatGPT, and Mistral's 7B model for commerce-specific use cases, we enable businesses, brands, and sellers to achieve unparalleled levels of efficiency, precision, and growth. This allows our clients to stay ahead in an ever-evolving competitive landscape by harnessing the full potential of AI tailored to their specific needs."
In 2024, 39 companies launched their marketplaces with Mirakl, including Nordstrom, JB HiFi, Bild Marktplatz, Castorama, TotalPlay, and Zooplus. Moreover, the unicorn was named a Leader in the Forrester Wave™ for marketplace development platforms, achieving the highest score in criteria such as AI, retail media, seller network, and seller onboarding tools.
Mirakl Ads and the Rise of Retail Media
With Mirakl Ads, launched in 2023, the company positions itself in the retail media market, a rapidly expanding sector. This solution, which allows retailers to effectively monetize their online traffic with advanced advertising tools, has opened a new growth avenue, reinforced by the acquisition of Adspert at the end of 2024.
While Mirakl reaches profitability on its flagship product, the scale of investments in AI and new solutions could weigh on its short-term profitability.