Softbank-backed Carro seeks valuation above $2B as it prepares for IPO- report

Carro is raising capital during one of the hardest possible times for fledgling firms. The Southeast Asia technology industry has been plagued by job cuts, CEO resignations and falling startup valuations, making it difficult for companies to debut on public markets.

BuildMart PH Technologies invests in builders online marketplace for Hubware

BuildMart PH Technologies, Inc., the Philippines-based business to business (B2B) e-commerce platform that connects manufacturers with hardware stores, has invested an undisclosed amount to Hubware Corporation, an online marketplace for builders, hardware stores, and construction suppliers.

Shopee doubles down on operational and logistics investments in Malaysia

Shopee, the Singapore-based e-commerce platform, is doubling down on operational and logistics investments in Malaysia as it maintains its #1 marketplace position by average monthly active users and total time spent in-app.

Carousell acquires Singapore’s luxury bag reseller LuxLexicon

Carousell Group, a multi-category platform for secondhand in Greater Southeast Asia, has acquired the business of Singapore’s luxury bag reseller and authenticated luxury consignment platform LuxLexicon.

Indonesia’s J&T Express achieves positive adjusted EBITDA in 2023

Indonesian logistics service provider J&T Global Express Limited (J&T Express) have achieved positive adjusted earnings before tax, interest, depreciation, and amortization (EBITDA) for the first time, reaching $147 million in 2023, underpinned by higher revenue.

Indonesian Bukalapak’s revenue up 23 percent year on year in 2023

Indonesian e-commerce firm Bukalapak has reported higher revenue in 2023, with the marketplace division delivering excellent growth of 47 percent over the year, primarily supported by the continued success in gaming.

TikTok launches TikTok Shop Mall in Singapore

Global e-commerce platform TikTok Shop has launched TikTok Shop Mall in Singapore, a by-invite only channel exclusively for brands' flagship stores and authorized online retail outlets.

Airwallex : 54% of global consumers expect to increase international online shopping amount over next 6-12 months

54 percent of global consumers expect to increase their cross-border purchasing over the next six to twelve months, global payments and financial platform Airwallex and consulting firm Edgar, Dunn & Company said Thursday.

Singapore’s AnyMind to acquire Malaysian e-commerce enabler Arche Digital

AnyMind Group, a Singapore-founded business process as a service (BPaaS) company, has on Thursday announced that it has entered into an agreement to acquire all shares of Malaysia-based e-commerce enabler, Arche Digital.

Indonesia’s GoTo foresees breakeven in 2024 after first quarterly profit

Indonesian biggest tech firm GoTo has foreseen its 2024 group adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) to breakeven after achieving first quarterly profit.