17 Most Valuable E-Commerce Companies in the World

Published January 28, 2023 at 12:18 pm EST Updated September 6, 2026 at 12:42 pm EDT

The eCommerce market was valued at $16.6 trillion in 2022. As per Imarc Group, the eCommerce industry will be worth $70.9 trillion by 2028, expected to grow at a compound annual growth rate (CAGR) of 27.43% from 2023 to 2028. Rapid urbanization, rising internet penetration, and integration of eCommerce platforms with devices such as smartphones and laptops are boosting this market’s growth.

According to UNCTAD projections, the surge in eCommerce after the outbreak of COVID-19 increased the percentage of online retail sales in overall retail sales from 16% to 19% in 2020. The increase in digitization after the outbreak of the global pandemic proved favorable for this sector, with McKinsey claiming that e-commerce has risen 2 to 5 times faster than before the pandemic.

According to Statista, the eCommerce market size by country indicates that China will remain the world’s largest e-commerce market in 2022, with an estimated value of $1.5 trillion. With $875 billion in sales revenue, the United States is the second-largest e-commerce market behind China. Japan is ranked second in terms of e-commerce market size by country, followed by two European countries, Germany and the United Kingdom. South Korea is in sixth place, and India is ranked seventh.

The last few years also saw the rise of social commerce, with the market predicted to reach $1.2 trillion by 2025. This phenomenon combines online purchasing with the use of social media platforms; vendors use it to promote their items and redirect the user to their webpage, while customers use it to write and read product reviews. This also makes social media platforms a threat to these specialized e-commerce giants in cases where the actual purchase takes place on social media. Chinese social commerce on platforms such as Alibaba’s Taobao Live and Xiaohongshu alone produced over $400 billion in sales in 2021.

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There are many established companies operating in the e-commerce market, like Amazon.com, Inc. (NASDAQ:AMZN) and Alibaba Group Holding Limited (NYSE:BABA). However, these established companies face a challenge from emerging startups that are targeting the gaps in the market and coming up with innovative offerings. For example, the US startup Rent the Runway offers luxury fashion pieces for rent, making high-end fashion more accessible to people. Another startup, Cazoo, provides a platform where you can buy used cars. This sector is also no stranger to unicorns, with unicorns making a revenue of $114 billion in 2021. Chinese startup Shein, which provides fast fashion at affordable prices, is the leading startup in the space with an expected valuation of $100 billion.

Amazon.com, Inc. is the largest e-commerce company in the world in terms of both market cap and revenue. With its international operations, Amazon beats China’s market leaders in terms of revenue. While in Asia, Alibaba Group Holding Limited, Pinduoduo Inc. (NASDAQ:PDD), and JD.com, Inc. (NASDAQ:JD) hold most of the market share.

Our Methodology

We used stock screeners and manual research to identify the biggest e-commerce companies in the world based on market cap. For private companies, we used a revenue multiple of 2x to come up with the estimated market value. The list is ranked in ascending order of market caps.

Most Valuable E-Commerce Companies in the World

17. Etsy, Inc. (NASDAQ:ETSY)

Market Cap as of January 12, 2023: $16.82 billion

Headquartered in Brooklyn, New York, Etsy, Inc. (NASDAQ:ETSY) is an e-commerce platform and is among the top e-commerce platforms in the United States. Etsy, Inc. dominates an interesting niche where sellers are connected to buyers for the exchange of vintage and unique factory-made and handmade items. The product line offered on the platform includes standard merchandise like apparel, housewares, paper products, candles, bags & purses, music, and woodworking materials, along with handcrafted and antique things, art, and supplies. By the end of 2021, the company’s marketplace had linked more than 7.5 million suppliers and over 96 million customers.

In addition to Etsy, Inc., Amazon.com, Inc., Walmart Inc. (NYSE:WMT), and Alibaba Group Holding Limited are included in our list of 17 most valuable eCommerce companies in the world.

16. Chewy, Inc. (NYSE:CHWY)

Market Cap as of January 12, 2023: $18.39 billion

Headquartered in Florida, United States, Chewy, Inc. (NYSE:CHWY) is an e-retailer of pet food and pet-related products. It is the largest online platform for pet-care products in the United States. The company generates revenue by selling pet food, treats, over-the-counter medicines, pharmacy fulfillment, and durable items like cages, collars, and bowls.

15. DoorDash, Inc. (NYSE:DASH)

Market Cap as of January 12, 2023: $19.85 billion

Headquartered in San Francisco, California, DoorDash, Inc. (NYSE:DASH) is an online food delivery platform. It provides an online marketplace where merchants can leverage the company’s platform to market and sell their products. The company started as Palo Alto Delivery Inc, and changed its name to DoorDash, Inc. in 2015.

14. eBay Inc. (NASDAQ:EBAY)

Market Cap as of January 12, 2023: $25.23 billion

Founded in 1995, eBay Inc. (NASDAQ:EBAY) is an American multinational company that operates one of the largest online marketplaces globally. The company’s platform supports both consumer-to-consumer and business-to-consumer sales. eBay Inc. enables customers to list, sell, and purchase goods from sellers throughout the globe and is available in more than 190 countries. The sellers are allowed to either sell at a fixed price or set up an auction for the listed items. Buyers can find both used and new products from almost any category, including apparel, health & beauty, fashion & lifestyle, electronics, furniture, tools, toys, and collectibles, etc.

13. Copart, Inc. (NASDAQ:CPRT)

Market Cap as of January 12, 2023: $29.49 billion

Founded in 1982, Copart, Inc. (NASDAQ:CPRT) is an online platform for auctioning and remarketing automobiles. The majority of the automobiles sold via services of Copart, Inc. are either damaged or recovered stolen vehicles. These salvaged vehicles are sold principally to authorized wreckers, rebuilders, used vehicle importers and exporters, secondhand car dealers, and the general public. The company also sells components from salvaged and retired vehicles through its recycling services. Copart, Inc. currently runs more than 200 sites throughout 11 countries.

12. Coupang, Inc. (NYSE:CPNG)

Market Cap as of January 12, 2023: $30.56 billion

Founded in 2010, Coupang, Inc. (NYSE:CPNG) is the largest e-commerce marketplace in South Korea. The company operates in two segments which comprise product commerce and growth initiatives. Coupang, Inc.’s platform offers several products and services, including household and décor products, fashion and beauty products, groceries and fresh food, sports goods, and even restaurant order and delivery services.

11. Shein

Estimated Market Value: $31.4 billion

Founded in 2008, Shein is a fast-fashion and lifestyle e-commerce platform that has a customer reach in more than 150 countries. The company offers apparel for women, men, and children. It follows an on-demand business model where the customers are directly connected to the supply chain, which helps the company keep a competitive price while avoiding inventory waste.

10. Sea Limited (NYSE:SE)

Market Cap as of January 12, 2023: $31.67 billion

Founded in 2009, Sea Limited (NYSE:SE) is a tech conglomerate based in Singapore. The company started as a gaming company called Garena but rebranded itself as an e-commerce platform to take over the Southeast Asian market. Garena remained a separate gaming brand owned by Sea Limited, which provides desktop and mobile online games and access to e-sports operations and other gaming-related digital content. Sea Limited also operates Shopee, which is the largest e-commerce platform in Southeast Asia, with 3.3 million monthly visitors.

9. Otto GmbH

Estimated Market Value: $33.92 billion

Otto GmbH is a German mail-order company offering multichannel retail, logistics, and financial services. The company’s multichannel product line includes footwear, fashion, and furniture products, which are sold through numerous sales channels. Otto GmbH manages almost 60 subsidiaries in more than 20 countries.

8. Shopify Inc. (NYSE:SHOP)

Market Cap as of January 12, 2023: $45.93 billion

Founded in 2006, Shopify Inc. (NYSE:SHOP) operates as an online marketplace. The company’s technology is used by hundreds of thousands of people all over the world to sell their products online. Shopify Inc. operates in two segments: subscription solutions and merchant solutions. The subscription solutions segment enables merchants to display, manage, market, and sell their products through numerous sales channels of the company. The subscription solutions segment serves as an add-on product that offers access to Shopify Payments, Shopify Shipping, and Shopify Capital.

7. MercadoLibre, Inc. (NASDAQ:MELI)

Market Cap as of January 12, 2023: $46.47 billion

Headquartered in Buenos Aires, Argentina, MercadoLibre, Inc. (NASDAQ:MELI) runs the largest e-commerce marketplace in Latin America. The marketplace enables companies, vendors, and individuals to advertise goods, make sales, and make purchases online at either a fixed price or through an auction. MercadoLibre, Inc. provides classified ads for real estate, autos, boats, and planes.

6. JD.com, Inc. (NASDAQ:JD)

Market Cap as of January 12, 2023: $107.48 billion

JD.com, Inc. is among the largest Chinese e-commerce platforms. The company has developed its own last-mile delivery network and nationwide fulfillment infrastructure, managed and run by its own people, to serve its omnichannel business, direct online sales, and online marketplace. JD.com, Inc. provides a wide range of commodities in all main product categories, including electronics, clothing, home furnishings, fast-moving consumer goods (FMCG), fresh food, etc.

5. Pinduoduo Inc. (NASDAQ:PDD)

Market Cap as of January 12, 2023: $118.08 billion

With over 500 million users, Pinduoduo Inc. is among the largest e-commerce platform in China. The company started as an online agricultural platform that connects farmers directly to consumers. It developed into a full-scale e-commerce platform that offers a wide range of products, including fashion, beauty, electronics, fresh produce, food and beverages, household items, sports and fitness items, cosmetics and personal care, auto accessories, etc. Pinduoduo Inc. also provides next-day grocery delivery services where consumers can order fresh food and groceries and can pick up deliveries the next day at a designated time and location.

4. Meituan (3690.HK)

Market Cap as of January 12, 2023: $128.75 billion

Headquartered in Beijing, China, Meituan (3690.HK) is an online shopping platform that offers locally sourced consumer products and retail services. The company’s business segments include in-store hotels & travel, new initiatives, and other segments. The in-store hotels & travel segment lets customers book hotels and attractions or acquire local consumer services from retailers in various in-store categories. Its new initiatives segment offers sales of commodities from Meituan groceries and business-to-business (B2B) food distribution services.

3. Alibaba Group Holding Limited (NYSE:BABA)

Market Cap as of January 12, 2023: $303.22 billion

Headquartered in Hangzhou, China, Alibaba Group Holding Limited is a Chinese multinational technology company that provides services like e-commerce and technology infrastructure to retailers, brands, merchants, and other businesses. The company operates several online marketplaces in China, including Tmall (Business-to-Consumer platform) and TaoBao (Consumer-to-Consumer platform). Additionally, the business offers IT services such as cloud storage and online databases. Alibaba Group Holding Limited also runs the online video portal Youku, Alibaba Pictures, and other content platforms that offer online movies, live events, news feeds, books, music, and other things.

2. Walmart Inc. (NYSE:WMT)

Market Cap as of January 12, 2023: $392.45 billion

Founded in 1962, Walmart Inc. is an American multinational retail company that operates stores in over 10,500 locations under 46 brands. Walmart Inc. provides products in several categories, including food, health, beauty, fashion and lifestyle products, etc. The sales channel of the company comprises supercenters, hypermarkets, cash and carry stores, discount stores, warehouse clubs, membership-only clubs, etc. Walmart Inc. also runs a number of e-commerce platforms, including Flipkart and Sam’s Club.

1. Amazon.com, Inc. (NASDAQ:AMZN)

Market Cap as of January 12, 2023: $959.91 billion

Founded in 1994, Amazon.com, Inc. is an American multinational tech company and is among the highest-grossing e-commerce aggregators. The company focuses on e-commerce, online advertising, digital streaming, cloud computing, and artificial intelligence (AI). In addition to manufacturing and selling its own electronic products like Kindle, Fire Tablets, Fire TVs, etc., the company also allows third-party sellers to sell their products on the online marketplace. Amazon.com, Inc. also offers programs to publish and sell content created by musicians, twitch streamers, filmmakers, and skills and app developers. Approximately 80% of the company’s total revenue is generated via the company’s online and physical retail, whereas Amazon web services (AWS), cloud computing, database, storage, and other services amount to 10-15% of the remaining revenue, followed by 5% revenue from the advertising services.

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