eCommerce
MAS directs Singapore e-commerce platform Qoo10 to suspend payment services
The Monetary Authority of Singapore (MAS) announced Monday that it has directed e-commerce platform Qoo10 Pte Ltd (Qoo10) to suspend the provision of all payment services cin Singapore from Tuesday.
MATRADE partners HYT Cross Border to boost Malaysian MSMEs e-commerce activities
Malaysia External Trade Development Corporation (MATRADE) has concluded a cooperation with HYT Cross Border Sdn Bhd on Thursday as part of its ongoing efforts to enable and empower Malaysia micro, small and medium enterprises (MSMEs) to begin their cross-border journeys and assist those who are currently expanding into the region.
YouTube & Shopee partner in Southeast Asia e-commerce tie-up – report
With YouTube Shopping, Alphabet Inc and Shopee will be competing against TikTok, the Bytedance-owned video app, which has increased its ambitions for the region after taking control of Indonesia's biggest e-commerce platform Tokopedia.
Singapore’s Sea revises up guidance for Shopee amid strong e-commerce momentum
Singapore-based tech conglomerate Sea Limited has raised the outlook for its e-commerce arm Shopee amid strong e-commerce momentum.
Indonesian GoTo’s Q2 revenue up 39 percent on year to $265.58M
PT GoTo Gojek Tokopedia Tbk (GoTo), the largest digital ecosystem in Indonesia, announced Tuesday that its gross revenue increased by 39 percent year on year to Rp 4.3 trillion ($265.58 million) in the second quarter.
Indonesia’s Bukalapak revenue up 6 percent quarter on quarter to $76.45M in second quarter
Indonesian e-commerce company Bukalapak said Wednesday that its revenue for the second quarter grew 6 percent quarter-over-quarter to Rp 1,244 billion ($76.45 million), underpinned by marketplace performance.
Southeast Asia e-commerce up 15 pct on year to $114.6B GMV in 2023
Total gross merchandise value (GMV) of Southeast Asia’s 8 leading ecommerce platforms rose to $114.6 billion in 2023, up 15 percent from 2022, according to Momentum Works “Ecommerce in Southeast Asia 2024” report released on Monday.
Report: Southeast Asia’s retailers bet big on social commerce despite economic climate
Southeast Asian retailers are placing big bets on social media as 68 percent plan to increase investment in social commerce over the next 12 months, Shopify Inc said Thursday.
Filipino startup Packworks bags $60k government funding to develop AI-powered marketing tool for ‘sari-sari’ stores
Filipino startup Packworks has secured PHP3.5 million ($60,000) from Philippine government to launch $85,000 artificial intelligence (AI)-powered precision marketing tool for ‘sari-sari’ stores (neighborhood mom-and-pop stores).
Pakistan’s DealCart raises $3M in seed funding round led by Shorooq Partners and Sturgeon Capital
DealCart, a Pakistan-based social e-commerce startup, has successfully raised $3 million seed in a funding round led by Shorooq Partners and Sturgeon Capital. The round also saw participation from 500 Global, Evolution VC, Rayn Capital, and Khyber Venture Partners.
