eCommerce

Singapore’s Sea achieves first full year annual profit since IPO

Singapore-based tech conglomerate Sea Limited has achieved its first full year of annual profit in 2023 since its initial public offering (IPO). The firm posted a net income of $162.7 million in 2023, as compared to total net loss of $1.7 billion in 2022.

GoTo, TikTok compliance with Indonesia’s trade regulation nears 100%, says GoTo CEO – report

Indonesian minister for small and medium enterprises Teten Masduki said last week TikTok had yet to comply with the regulation.

Bangladesh’s PriyoShop raises $5M in Series A funding led by Century Oak Ventures

PriyoShop, Bangladesh’s business to business (B2B) retail marketplace for micro, small and medium enterprises (MSMEs), has on Tuesday announced the completion of a $5 million Pre-Series A round of financing led by Century Oak Ventures.

TikTok still violates Indonesian in-app transactions ban, says minister – report

Teten Masduki, the Indonesian minister for small and medium enterprises (SMEs), told reporters that TikTok still had not complied with the regulation.

Singapore’s Carousell Co-Founder Lucas Ngoo to step down

Ngoo said he will continue to have full vested interests in the success of Carousell as a co-founder, board director and shareholder, and have full confidence in our business and leadership team.

SIRCLO partners with Shopify to enhance E-Commerce capabilities

SIRCLO, a an omnichannel commerce enabler in Indonesia has announce its partnership with Shopify, the global e-commerce powerhouse, to enhance its e-commerce capabilities. This alliance is set to transform the online retail experience, combining the strengths of both companies to offer superior e-commerce platforms in Indonesia.

Alibaba’s Lazada cuts staff across Southeast Asia; reorganization plan to be announced soon – source

The new reorganisation plan will be announced by Jan 15, sources said.

Alibaba’s Southeast Asian arm Lazada marks new year with layoffs in Singapore – report

Junior and senior employees from multiple departments, including the commercial and marketing teams, were affected.

GoTo Group, TikTok, and University Gadjah Mada to collaborate to develop Indonesia’s digital talent

PT GoTo Gojek Tokopedia Tbk (GoTo), Indonesia’s largest digital ecosystem, and TikTok, the global entertainment platform, have partnered Gadjah Mada University (UGM) to develop Indonesia’s digital talent. The duo have signed a memorandum of understanding with UGM to partner in the establishment of the GoTo x TikTok x UGM Technology Center - a digital talent…

GoTo receives validation from SBTi on its net-zero target

PT GoTo Gojek Tokopedia Tbk (GoTo), the largest digital ecosystem in Indonesia, has on Thursday announced that its near and long-term greenhouse gas emissions reduction targets across all the countries it is present in have been validated by the Science Based Targets initiative (SBTi).