Tag: Sea Ltd
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Alibaba’s Lazada cuts staff across Southeast Asia in fresh round of layoffs
Lazada is the third-largest e-commerce player in Indonesia, after Sea Limited’s Shopee and Tokopedia, according to Momentum Works. Matt Hunt | Lightrocket | Getty Images SINGAPORE — Alibaba-owned Lazada began its latest round of layoffs on Wednesday, a person with direct knowledge of the matter told CNBC, following a slew of media reports about cuts…
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Alibaba’s Lazada woos sellers affected by Indonesia’s e-commerce ban
Lazada is the third-largest e-commerce player in Indonesia, after Sea Limited’s Shopee and Tokopedia, according to Momentum Works. Matt Hunt | Lightrocket | Getty Images Lazada, a Southeast Asian e-commerce marketplace owned by Alibaba, is courting sellers affected by Indonesia’s latest e-commerce regulation, its Indonesia CEO James Chang told employees in a town hall meeting…
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Tencent-backed J&T Express fell in Hong Kong IPO debut
Courier handing over package asking female customer to do electronic signature, delivering, receiving, efficiency 10’000 Hours | Digitalvision | Getty Images Shares of Indonesia’s J&T Express fell 1.33% when it went public on Friday. The logistics service provider traded at 11.84 Hong Kong dollars ($1.51) on Friday morning, after opening at HK$12. The HK$3.92 billion…
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VC firms will be pickier in 2023
Venture capital-backed companies only raised $369 billion for the first three quarters of 2022, according to Crunchbase data. A total of $679.4 billion was invested globally in 2021. Malte Mueller | Fstop | Getty Images Venture capital firms in Southeast Asia will probably be pickier next year, with valuations plunging and economic headwinds slowing growth…