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EcommerceM&A Valuation Benchmarks
Median multiples, deal-size medians, named acquirers, and per-bracket multiples — based on 20real M&A transactions in the ecommerce space.
State of EcommerceM&A in 2026
The ecommerce M&A market is currently trading at a median 7.9× EBITDA (interquartile range 7.9×–13.05×) and 4.85× revenue (interquartile range 1.88×–11.7×), based on 20 disclosed transactions at a median deal size of $1,662.5M. The market trend is currently growing.
Active acquirers include American Exchange Group, IPO, Naver, IPO (2019). Recent named transactions: Allbirds (2026, $39M); Instacart (2023, $9,900M, 160× EBITDA); Poshmark (2022, $1,200M).
Premium multiples in ecommerce are driven by diversified traffic sources (organic + email + paid mix, not single-channel dependent); brand or category leadership in a defensible niche (vs commodity dtc); subscription or replenishment revenue model (lifts valuation 1-2 turns).
What depresses multiples: amazon platform dependency (single-platform risk priced into offers); ad spend above 25% of revenue (margin pressure + structural buyer concern); no brand defensibility (competing on price in a commodity category).
All figures based on disclosed deals only. Source: SEC filings, EDGAR 8-K/S-4, and verified press releases (20 deals total, 3 with EBITDA, 20 with revenue). Quality grade: yellow.
Median multiples
| Metric | p25 | Median | p75 | Sample |
|---|---|---|---|---|
| EV / EBITDA | 7.9× | 7.9× | 13.05× | 3 deals |
| EV / Revenue | 1.88× | 4.85× | 11.7× | 20 deals |
| Deal size (EV) | — | $1,662.5M | — | 20 deals |
Recent (2018+) median: 7.9× EBITDA, 4.85× revenue. Data quality: yellow.
Recent named M&A deals in ecommerce
Most-recent disclosed transactions. Click any deal for full detail (multiples, financials, source).
Sourced from SEC filings, EDGAR 8-K/S-4, and verified press releases.
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What drives premium multiples
- ●Diversified traffic sources (organic + email + paid mix, not single-channel dependent)
- ●Brand or category leadership in a defensible niche (vs commodity DTC)
- ●Subscription or replenishment revenue model (lifts valuation 1-2 turns)
What depresses multiples
- ●Amazon platform dependency (single-platform risk priced into offers)
- ●Ad spend above 25% of revenue (margin pressure + structural buyer concern)
- ●No brand defensibility (competing on price in a commodity category)
Methodology details: how ExitValue computes valuation ranges · full ecommerce calculator