The investment represents Sendo’s largest funding round to date
Apart from Tiki and UP Co-working Space, the Asia-focused venture debt provider is also working on a few more deals in Vietnam.
Tiki Investment, a subsidiary of Tiki, has bought over local ticketing startup Ticketbox, as part of an attempt to build an ‘all in one’ e-commerce ecosystem in Vietnam.
It is totally normal for startup businesses to make losses in the early years, as long as investors see a light at the end of the tunnel for these to reach profitability at a point in the future.
Spending over $5.1 million to buy Vietnamese online retailer Tiki's shares, VNG now holds a 29 per cent stake, eight per cent higher than that of the second shareholder JD.com.
Accumulated losses from leading e-commerce websites such as Lazada, Tiki, Shopee or Sendo are on the sharp rise, mainly due to the high sales expenses and in some cases, high management expenses.
One of Tiki's leaders said that in the next three to five years, the company would probably have to decide to either take initial public offering or be acquired by another company.
The number of startups invested doubled after one year, reaching 92 enterprises.
JD.com, China’s largest retailer, announced it has gained another foothold in Southeast Asia with its strategic investment in Tiki, Vietnam’s leading B2C e-commerce platform.
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