JD.com strengthens presence in Southeast Asia after investing in Tiki
Chinese ecommerce company JD.com has signed a share subscription agreement as co-lead investor in its Vietnamese counterpart Tiki’s recent Series C round of financing. Upon completion of the investment, JD.com will become one of Tiki’s largest shareholders.
Upon completion of the investment, JD.com will become one of Tiki’s largest shareholders.
The partnership will see JD.com and Tiki work together in a range of areas including merchandising, cross-border trade, logistics and fulfillment, technology, financing, and operational capabilities. The two companies will also cooperate to deliver a wider authentic selection from global brands to consumers, while helping Vietnamese local brands in expanding internationally via JD’s global platform.
“We are very excited to continue our Southeast Asia expansion with Tiki, a company that has a deep understanding of Vietnam and a reputation for outstanding customer service,” said Winston Cheng, president of international at JD.com.
“With JD.com’s expertise in leveraging social media for ecommerce, Tiki’s partnership with VNG in social network and mobile payments is a natural fit as we aim to provide differentiated services to suppliers and consumers in Vietnam. We look forward to working with Tiki to deliver a truly world class e-commerce experience to Vietnamese consumers.”
JD already has an established presence in Southeast Asia through an ecommerce platform in Indonesia and recently partnered with Thai conglomerate Central Group to enter Thailand.