JD.com, VNG Corp lead investment in Vietnamese e-commerce firm Tiki.vn
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January 15, 2018JD.com widens Southeast Asia presence by investing in Vietnam’s Tiki.vn
January 15, 2018This post was originally published on this site
BEIJING (Reuters) – Chinese online retail firm JD.com Inc said on Tuesday it has led an investment in Vietnamese e-commerce firm Tiki.vn, expanding its Southeast Asia business amid competition from Alibaba Group Holding Ltd and Amazon.com Inc.
JD.com co-led the financing with Vietnamese entertainment and social media firm VNG Corp, which is an existing investor, it said in a statement on Tuesday.
The firm did not disclose the size of the funding but said that JD.com will become one of Tiki’s largest shareholders alongside VNG following the deal.
Reporting by Cate Cadell; Editing by Edwina Gibbs
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