Online marketplace Tiki gets US$130 million funding
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Vietnamese online marketplace Tiki has successfully raised US$130 million in its latest funding round led by Northstar Group.
According to Deal Street Asia, the total value of the investment may increase by a further $20 million.
Founded in 2003, Northstar Group is a Singapore-based private equity firm, currently investing US$3 billion in more than 30 companies across Southeast Asia.
Recently, online marketplace Tiki and rival platform Sendo informed authorities of a proposed merger scheme amid intense competition in Vietnam’s e-commerce market, with two strong rivals Lazada and Shopee. However, neither company has commented further on the plan.
Although Tiki has received large investment amounts, the company is locally referred to as a “money-burning machine”. It accumulated a loss of $60.9 million last year.
Questions & Answers
Q.Which firm led the latest funding round for Tiki?
Which firm led the latest funding round for Tiki?
Northstar Group, a Singapore-based private equity firm, led Tiki's latest funding round. The firm was founded in 2003 and invests across Southeast Asia.
Q.Why are Tiki and Sendo considering a merger?
Why are Tiki and Sendo considering a merger?
Tiki and Sendo are considering a merger due to intense competition in Vietnam's e-commerce market. Strong rivals Lazada and Shopee contribute to this competitive environment.
Q.What was Tiki's financial performance like last year?
What was Tiki's financial performance like last year?
Last year, Tiki accumulated a loss of $60.9 million. Despite receiving large investments, the company is locally known as a 'money-burning machine'.
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