Sea Group set to secure up to $2.6B through American depositary share offering
Sea Group announced on December 10, 2020 its intention to offer 11 million American depositary shares (ADS), which can raise $2.2 billion for the company. Each ADS represents a single Class A ordinary Sea Limited (NYSE: SE) share. All of the depositary shares are solely being offered by Sea Limited in an underwritten public offering.
Aside from the ADS offering, Sea Group also announced the…
Booming Australian logistics startup Shippit secures $22.3M Series B for Southeast Asia Expansion
Businesses worldwide have been forced to adapt to the new normal due to the coronavirus pandemic. Retail was facing a big problem earlier this year, except for e-commerce, which was given the perfect opportunity to shine. With the sudden demand for online sales and logistics, e-commerce fulfillment company Shippit saw its business grow as transactions started increasing by more than double…
Fatima Gobi Ventures’ Techxila Fund I invests in experienced startup teams that deal with post-pandemic concerns
Fatima Gobi Ventures, which brings together Pakistan conglomerate Fatima Group and Gobi Ventures, has announced its initial round of investment in five startups for its maiden Techxila Fund I, which was announced late 2019. The startups in the initial round all feature experienced founders in their management teams. The companies operate in e-commerce, travel, fintech, SaaS and logistics--and…
With $1M seed round, Philippine startup Resellee plans to capitalize on the social commerce trend
Resellee, a social commerce platform launched in the Philippines, looks to replicate the success of China’s Pinduoduo after securing $1 million in seed funding from Singapore-based digital banking platform Mintech Enterprises and Chinese investment firm Hofan Capital, as announced in November 2020. The startup plans to use this investment to build its technology and fund its expansion to other…
Becoming Indonesia’s social commerce leader: Lessons from Pinduoduo
When it comes to social commerce, Pinduoduo is easily one of the first names that come to mind with the pioneering work they did in China, now with 700 million annual active buyers and nearly 100 billion market cap. Pinduoduo came into an e-commerce landscape with already two dominant and established first-wave or traditional eCommerce players and the space was ripe for a new e-commerce…
SWITCH 2020 | Singapore Week of Innovation and Technology is back Dec 7-11
Jointly organized by the Monetary Authority of Singapore, Enterprise Singapore, and IPI Singapore, the Singapore Fintech Festival (SFF) x Singapore Week of Innovation and Technology (SWITCH) returns on Dec. 7-11. This year, the event will be presented in a unique hybrid format, combining a 24-hour online event platform and over 40 global satellite events in Fintech hubs around the world,…
ORIGIN 2020 | Everything you need to know about livestreaming eCommerce
Taobao Live, the e-commerce livestreaming platform, raked in $7.5 billion within 30 minutes of starting presales for 11/11 Singles Day. This phenomenal figure attests to the growing trend of livestreaming e-commerce in China, which is predicted to bring in $125 billion in sales this year. Closer to home, livestream e-commerce has grown to nearly $4 billion in market size in Southeast Asia, said…
ORIGIN 2020 | Building resilience in supply chain and logistics
If you catch yourself checking the location of your shopping orders multiple times a day, you are not alone. In Asia, everyone wants real-time or near real-time visibility across their shipments and inventory, across regions and their business network, said experts at a TechNode Global ORIGIN 2020 conference panel, moderated by Garry Lim, partnerships director at LogiSYM, on Nov. 18.…
ORIGIN 2020 | Cash is king for survival
Cash is king and survival is key for startups, which should focus on maintaining good cash visibility and looking creatively at what levers they can pull to generate cash, according to experts at TechNode Global’s ORIGIN 2020 conference held on Nov. 18.
“Don’t think about growing your market too aggressively as you were pre-pandemic,” Jeff Chi, founding member and vice chairman of Vickers…
Announcing the winners for the ORIGIN Innovation Awards 2020
TechNode Global has announced the winners for the first edition of ORIGIN Innovation Awards. The winners were announced during the ORIGIN Conference, an on-demand conference track about the latest developments in the Asia tech and startup scene within TECHFEST Live x ROAD-TO-WCIT Malaysia 2020.
2020 winners include early-stage startups, venture capital firms, corporates, community…