Tencent's stake in Singapore-based e-commerce operator Sea will drop from 21.3% to 18.7%, and voting power reduced to less than 10%, following the sale of 14.5 million shares worth about $3 billion.
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Citing the need for agility, the Chinese internet giant reorganises into two separate units, one comprising its overseas and wholesale businesses including Lazada, while the other combines all its domestic commerce businesses.
Singapore-based mobile platform will begin trading December 2 on Nasdaq, finally kicking off its IPO after an initial delay in its SPAC merger and third-quarter earnings report last month that saw wider losses of almost $1 billion.
Diners at the fast food chain's Singapore outlets can now pay for their orders with GrabPay and earn loyalty points on GrabRewards, as part of a partnership deal that includes a jointly developed data platform to analyse purchasing patterns.
One in three Southeast Asian digital merchants believe they would not have survived the pandemic if not for online platforms, but point to the need to lower transaction fees, with "too expensive" platforms a top barrier to adoption.
Singapore-based logistics services operator secures $578 million in its latest funding round that includes existing investors such as B Capital Group and Monk's Hill Ventures and new investor Alibaba Group, which subsidiary Lazada currently taps Ninja Van as a last-mile delivery partner.
Stallholders of 113 hawker centres across the country will receive support and other help to get them online and access to food delivery platforms, including FoodPanda and Deliveroo, via a common interface.
Indian e-commerce giant raises $3.6 billion from investors that include GIC and SoftBank, with plans to use the funds to further drive its goal to "transform" the country's commerce industry, including traditional segments such as fashion and mom-and-pop grocery stores.
Apart from acquiring Amazon third-party sellers, Singapore-based Rainforest will look to buy fast-growing brands that sell on Asian e-commerce platforms and build tools to help them centrally manage their transactions across these different marketplaces.
Indonesia's two online tech giants have officially merged to form a new entity GoTo, which represents an "equal union" between both companies and an ecosystem that accounts for 2% of the country's GDP.