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Tiki.vn receives investment from JD.com

Released at: 16:51, 16/01/2018

Tiki.vn receives investment from JD.com

Photo: Tiki

Chinese e-commerce giant becomes large shareholder in Tiki.vn.

by Minh Do

The Tiki JSC (Tiki.vn) has received investment from JD.com, one of the leading e-commerce corporations in the world, in a round of Series C funding.

This is a turning point in Tiki’s development and a strategic move by JD to enter into Southeast Asia’s e-commerce market. The investment sees JD become one of the largest shareholders in Tiki.

The two will partner in a wide range of industries, including cross-border categories and services, and infrastructure, and will apply new technologies into Tiki’s operations.

JD has built e-commerce infrastructure in Indonesia and recently cooperated with Thailand’s Central Group to expand in the country. Noting the fast-growing Vietnam market, JD decided to invest and become a strategic partner of Tiki.

“Among the investors in this round, we are delighted to be working with JD.com, the world’s leading e-commerce company, as Tiki is entering into a boom period after seven years of establishment,” said Mr. Tran Ngoc Thai Son, Founder and CEO of Tiki.vn. JD and Tiki have the same business philosophy and focus on giving their customers the best shopping experience and fast delivery. “I believe that with the deep understanding of consumers, the online shopping habits, the infrastructure and modern technology of JD will be a competitive advantage for Tiki for the development of e-commerce of Vietnam,” he added.

“We are proud to continue to expand our Southeast Asian markets with Tiki, a company with a deep understanding of the Vietnamese market and excellent customer services, and a leading inbound ecommerce site,” said Mr. Winston Cheng, General Manager, International Markets, at JD.com. “With JD’s experience and expertise in promoting e-commerce marketing, Tiki’s partnership with the VNG Corporation on social networks and mobile payments have created a competitive advantage, as JD and Tiki are looking to offer differentiated services to Vietnamese partners and consumers. JD would like to work with Tiki to bring Vietnamese consumers a world-class e-commerce experience.”

Tiki and JD will work together to bring the global brand to Vietnamese consumers more widely and help Vietnamese brands expand their business in both regional and international markets through JD’s global platform.

Tiki (short for “Search & Save” in Vietnamese) is the leading and most reliable B2C e-commerce platform in Vietnam and famous for TikiNOW. “Buy Tiki - Get in 2 hours” is the fastest and most unique website in Vietnam. It is aiming to develop “World Class Customer Service”, with a portfolio of 100 per cent genuine products from 4,500 brands, from electronics, consumer, fashion, and mother & baby items to books.

Tiki was awarded the title “Top 10 Most Influential Companies of the Decade (2007-2017) in the Development of Vietnam’s Internet Industry” last year. During its seven years of development, it has also received investment from VNG, Seedcom, Sumitomo, and CyberAgent Venture.

JD.com is the largest online retailer in China in terms of revenue. Its mission is to provide consumers with the best online shopping experience through websites, apps, and WeChat with Mobile QQ. The company has the largest infrastructure among e-commerce companies in China. As at September 30, 2017, it had seven operations centers and 405 warehouses covering 2,830 districts across China. It is a member of the NASDAQ100 and among the 500 largest companies in the world, according to the Fortune Global 500 rankings.

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