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Indian e-commerce startup Meesho layoffs 15% of employees
Indian social e-commerce startup Meesho has slashed 15% of its workforce to improve its financial health amid a tough macroeconomic environment. Read more…
e-commerce
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Pincode is PhonePe’s new play for India’s e-commerce space
Indian mobile payments app PhonePe forays into e-commerce with the launch of Pincode, a hyperlocal commerce app leveraging the government’s ONDC initiative. Read more…
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Cyber Monday expected to set new online sales record
Spending on Cyber Monday, the biggest US online shopping day, may hit a record $11.6 billion, according to a report, even under the strain of inflation. Read more…
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JD.com execs face big pay cuts to boost front-line benefits
JD.com says it will cut the salaries of more than 2,000 senior managers by 10% to 20% next year to help pay for improved benefits for front-line staff. Read more…
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Blibli owner Global Digital pulls off its $500m IPO
PT Global Digital Niaga – owner of e-commerce group Blibli – beats the tech stock selloff to become the largest IPO in Jakarta since GoTo’s IPO in April. Read more…
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E-commerce firms in SEA shift focus to customer engagement
Customer acquisition is no longer the primary focus for e-commerce firms in Southeast Asia as markets mature. Now it’s about customer retention and loyalty. Read more…
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Vietnam leads digital consumer growth in Southeast Asia
Eight in ten Vietnamese are digital consumers, making Vietnam one of the top markets for adopting new technologies from e-commerce to mobile payments: report. Read more…
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Flipkart invites its e-commerce users into the Flipverse
Flipkart teams with eDAO to launch its metaverse offering, Flipverse, as it banks on metaverse and Web3 to drive the future growth of online retail. Read more…
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Shopee spree continues with layoffs in China and Indonesia
Shopee is cutting jobs in China, Indonesia and elsewhere as Sea Ltd struggles to reassure investors it can achieve self-sufficiency within 18 months. Read more…
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Sea Ltd shuts down Shopee operations across Latin America
Sea Ltd’s e-commerce arm Shopee told employees it was shutting down local operations in Chile, Colombia, and Mexico and leaving Argentina entirely. Read more…
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Shopee rescinds job offers in the wake of Sea losses
Shopee has rescinded dozens of job offers in the past two weeks, shortly after parent company Sea Ltd reported widening losses and sharply slower revenue growth Read more…
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Visa says network tokens now outnumber physical cards
Visa said it has issued over 4 billion network tokens worldwide via Visa Token Service (VTS), outpacing the total number of its physical cards in circulation. Read more…
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India e-commerce firms rush to beef up delivery workforce
India’s e-commerce companies are adding delivery personnel at a rapid pace as a major annual shopping season approaches amid a tight job market. Read more…
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TikTok tests e-commerce integration in Southeast Asia
TikTok is trialling e-commerce integrations in various geographical locations, allowing ByteDance to take advantage of this key opportunity. Read more…
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Arzooo secures another $70m to bring ‘best of e-commerce’ to Indian retailers
B2B retail startup Arzooo secures $70 million in a new financing round to develop its tech infrastructure and expand business across India. Read more…
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Ant and Alibaba are untangling operations amid China crackdown
Ant and Alibaba untangle their operations from each other and independently seek new business as they navigate China’s regulatory crackdown. Read more…
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WTO under pressure to keep moratorium on e-commerce tariffs
Tech players say dropping the WTO exemption will undermine a global recovery. Developing countries say the exemption is unfair to them. Read more…
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Tencent subsidiary buys a stake in Flipkart worth $264 million
Amid the ongoing scrutiny of Chinese companies, Tencent has acquired a stake worth $264 million in Indian e-commerce major Flipkart. Read more…
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Blibli could merge with Tiket.com as it finalizes its $500 million IPO
Indonesian e-commerce company Blibli is reportedly raising $500m in an IPO, and could merge with sister firm Tiket as part of the offering. Read more…
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India’s ONDC is lining up banks and other players to move forward
India’s ONDC scheme to break Amazon and Walmart’s dominance of its e-commerce sector has begun lining up key players needed to move it forward Read more…