Today’s Cashback News stories cover developments across the globe from Germany and the US to Malaysia, India and right across SE Asia. Innovative e-commerce incubator Rocket Group shifts its development and investment strategy including the sale of three of its leading Indian properties. TechInAsia highlights 53 technology startups worth investigating – an essential and up to the minute e-commerce and tech reference for Asia. Singapore-based Shopify is among the upstarts growing quickly and expanding in the SE Asia region.
AT Kearney and the CIMB ASEAN Research Institute identify five important changes needed for e-commerce to succeed in SE Asia. Curious about e-commerce in Indonesia? TechInAsia profiles 28 popular online shopping sites. In the US, cashback app Ibotta raises $40 million with aggressive retail and grocery business growth plans.
Rocket Internet Startups Grow in Revenue but Fail to Attain Profitability
German eCommerce investor Rocket Internet which is considered to be among Europe’s largest internet companies is stuck in a situation where although it witnessing is a strong growth in sales of its major startups, theres’ no stopping the cash burned by these companies. Although, the company is one of the biggest launch pads for future stock market listings from online fashion to food delivery, several public offerings have been put on hold lately. The company confirmed that its portfolio value had increased by $3.82 billion since its listing in Frankfurt last October. It has also announced plans to sell three of its large Indian e-commerce startups – Jabong, Foodpanda, and FabFurnish and invest instead through VC funds in the future. Via iamwire.com
53 startups in Asia that caught our eye
TechInAsia highlights 53 technology startups worth investigating. They cover a wide range of companies in e-commerce, retail, apartment rentals, transportation, crowdfunding, accounting, doctor bookings, groceries, job search, insurance, health, payment systems, Internet, technology, beating and much more. And these innovators are happening in every Asian market including Korea, Japan, Indonesia, India, Malaysia, Philippines, Vietnam, Thailand, China and other developing markets.
If you’re looking for investment, business, partnership, e-commerce and other Asian technology business opportunities, this is a great place to start. Via techinasia.com
Shopify remains bullish toward Singapore and Malaysia
SE Asia’s ecommerce industry remains nascent compared to other parts of the world. A recent study by research firm UBS found that only 0.2% of total retail sales in Southeast Asia took place online, while China clocked in at 8%.
The relative newness of ecommerce in the region leaves a wide open space for ambitious startups and corporations. Rocket Internet has built a ecommerce mini-empire in Southeast Asia with its flagship Zalora and Lazada marketplaces. Elsewhere, lo-fi consumer-to-consumer marketplaces like OLX in the Philippines and Indonesia thrive.
Shopify, along with the aforementioned companies, represents the new wave of ecommerce that’s growing popular in North America. It originated in 2006 as a template builder for small businesses that wanted their own online real estate – away from the clutter and noise of Amazon and eBay. But it has since evolved to become an “operating system for ecommerce.” Via techinasia.com
5 things to improve for ecommerce to grow in Southeast Asia
Global management consulting firm AT Kearney and the CIMB ASEAN Research Institute recently published a report about removing barriers in Southeast Asia’s ecommerce space. The firms argue that with the ASEAN Economic Community set to come into effect by the end of this year, online retail companies are poised to make a significant impact of the region’s economic development.
Currently, ecommerce accounts for less than 1% of the total retail sales in Southeast Asia, according to the report. This is still quite low when compared to the 6-8% ratio in places like Europe, China, and the US. But with the steadily rising spending power of SE Asia’s middle-classes, increased internet penetration, and a growing number of ecommerce players, online retail in the region could grow by as much as 25% annually in coming years. techinasia.com
28 popular online shopping sites in Indonesia
Indonesian ecommerce is one of the most talked about spaces in Southeast Asia’s tech startup world. Players like Lippo Group, Rocket Internet, Sequoia Capital, SoftBank, and many others are taking the archipelago’s online retail business deadly serious. Logistics plays are now happening in Indonesia faster than locals can eat nasi padang. However, as online sales still account for less than 1% of the nation’s entire retail sector, Indonesia’s ecommerce space is set to see more growth and consolidation over the next decade.
I’ve taken the liberty of putting together a list of popular online shopping destinations in Indonesia. Because most locals will consider this a no-brainer, this list is primarily for global industry stakeholders and outsiders looking in. Via techinasia.com
Cashback app Ibotta raises $40M
Ibotta, the company behind a US retail app which gives users cashback when they shop, raised another $40 million to help aggressively scale its mobile loyalty platform. Ibotta’s series C funding will help it grow its consumer base and triple its current team and footprint in its home of Denver, as it looks to establish itself as a household name across the country, the company said. It also wants to build further relationships in the grocery and consumer packaged goods industry and expand its retail partnerships. Via mobileworldlive.com
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