Apotea: Sweden’s Future Juggernaut
November 28, 2016
An up and coming e-commerce business by the name of Apotea (founded in 2011) has quickly developed into Sweden’s largest e-pharmacy. In fact, the company, based out of Stockholm, is Sweden’s first completely functioning pharmacy with no tangible store locations. Their aim is to make the “service and simplicity” greater for their regular consumer, a mission that they have gone to extraordinary lengths to achieve. With shares being opened up gradually to big buyers, this Swedish company isn’t standing idle either; there is a keen eye for large growth that is being attained by the firm in many ways already.
A Modern Approach
Apotea is well-rounded, acting as an e-retailer of medications as well as healthcare/personal items. As of 2011, the Swedish MPA approved them to sell prescription and non-prescription products. Apotea is headed by CEO Pär Svärdson and several co-founders but recently opened up to SEB (another Swedish firm that handles finance) in order to seek out other buyers for portions of the company. Originally they were looking to open 10% of the company up to shares (as of April 1st); however, by May 9th, 11% of the company was eventually acquired by a mix of buyers including Ernström & Company alongside the Avito site founders (a firm handling item advertisement online).
The head of Apotea, a few early investors, and Laulima sold some of their shares in the company, allowing in the buyers from outside the firm and showing the firm’s move toward expansion. Sweden is gradually becoming known for its abundance of fresh ideas and progressive actions. Other firms that have illustrated the nation’s innovative tendencies are King (bought by Activision Blizzard for 5.8 billion dollars and known for coming up with the game Candy Crush), Klarna (another e-commerce company), and the renown music firm Spotify.
A Promising Future For Tech Firms
It’s quite obvious that tech-savvy firms will take the upper-hand in the market place of the future. Three-fourths of Swedes older that sixteen use smartphones, so it’s quite clear that a firm like Apotea that wants to make a “regular pharmacy” but with the sheer “convenience of online shopping”, will rise to the top of their market. There is no doubt that this firm is going to grow rapidly in the years to come. Projections even show twice the amount of sales as the year before in 2016, a total coming out to 120 million dollars. There is such a promising future for the firm as they hold a strong grasp on their market in Sweden as well as an accurate assessment of the new tech-culture developing in their nation and around the world. At this point, Apotea is focusing on growth equity, seeking to simply to expand via established investors buying in to the company. As the firm becomes more established itself, it will be open to smaller investors, allowing the everyday man to take his stake in this budding Swedish company. The very idea that this firm is all online is a testament to the way in which technology is so deeply embedded into society and the individual’s daily life. It is also showcases the apt judgement of the people who originated the company itself.