Chinese online e-commerce giant JD.com has become the largest shareholder in Tiki Vietnam, Vietnam’s second largest e-commerce platform by traffic after Singapore-based Shopee. It’s primary competitors in the country are Alibaba owned Lazada and Singapore-based Shopee.
JD.com currently holds a 25.65% stake in Tiki Vietnam. It co-led a financing round of undisclosed size for Tiki in January 2018, together with Vietnamese entertainment and social media firm, VNG Corporation. VNG Corporation was previously the largest investor in Tiki having invested USD 22.4 million in the startup over the past two years.
The firm is reportedly seeking a UDF 100 million investment in its next funding round in order to boost its competitive edge.
(Source: Inside Retail)
