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The tech-enabled coffee chain, Flash Coffee, is accelerating its Asian expansion plan, making its Hong Kong debut this month and committing to opening its first stores in Japan and South Korea later this year. Launched last year, Flash Coffee already operates…
Alibaba has bought Pakistani e-commerce firm Daraz, as the Chinese tech giant looks to increase its presence in South Asia. Financial details of the transaction, which was announced on Tuesday, were undisclosed. Daraz, founded in 2012, is backed by European…
Is Zalora Indonesia for sale? Fresh after selling off a chunk of the Philippines business, Rocket denies further Asian withdrawal. Last week, Ayala announced it will buy 43.3 per cent ownership in Zalora manager BF Jade E-Service Philippines for an…
Control of the Foodpanda business has been sold by parent Rocket Internet, including the remaining Asian operations. German-based online food-ordering service Delivery Hero Holding, which is active in 33 countries, has acquired Rocket Internet-backed Emerging…
Rocket Internet has sold its mobile and online food ordering portal foodpanda to rival Delivery Hero for an undisclosed sum. Berlin-based Delivery Hero was founded in 2011 by Niklas Östberg. The company said in its announcement that the purchase would…
Hong Kong logistics startup Easyship has raised an undisclosed amount of pre-series A funding from 500 Durians, a fund managed by Silicon Valley’s venture capital major 500 Startups. Easyship is an online platform providing crossborder logistics services for…
The Lazada and Zalora parent is paring back its losses after divesting operations in two markets. With operating losses nearly halved and excluding disposals in India and Southeast Asia, Global Fashion Group (GFG) has reported a 36.3 per cent rise in net…
Rocket Internet-backed Foodpanda India, which last year faced allegations of internal fraud and misappropriation of funds, is reported to be raising fresh capital. It has mandated Mumbai-based mid-market investment bank O3 Capital for a US$40-60 million…
UberEats Singapore has launched, the ride-hailing app’s food-delivery service making its Asian debut. Using the standalone app, Singaporeans can order food from about 100 restaurants. While deliveries are initially limited to the central business and…
Thai retailer Central Group Vietnam is putting the brakes on its acquisition spree to focus on consolidating profit, according to media reports. Deputy group CEO Prin Chirathivat says Vietnam is shaping up as a second home for the Central Group, with the…
Online retailer Lazada Malaysia claims it had at least double-digit growth in sales last year, yet is still losing money. It was a challenging year for retail, says CEO Hans-Peter Ressel of Ecart Services Malaysia, the company behind Lazada Malaysia. He says…
Investors have injected US$339 million lifeline into GFG, which owns the struggling Rocket Internet fashion websites. Rocket Internet and others have sunk the euro 300 million into its Global Fashion Group, raising GFG’s valuation to €1 billion – which is…
Rocket Internet is selling its Zalora Thailand and Vietnam eCommerce fashion sites. This follows the Alibaba Group investing in Rocket Internet’s Lazada, valued at US$1.5 billion. Zalora, which raised more than $250 million, was once on an equal footing with…
Beauty salon booking app Vaniday, backed by eCommerce giant Rocket Internet – the company behind fashion eTailer Zalora – has launched its first Asian platform in Singapore. Following in the footsteps of five other countries, the app now covers the city…
Foodpanda India appears likely to be shut down after parent Rocket Internet failed to find a buyer at a bargain basement price. It’s the latest chapter for the increasingly troubled Asian operations of Foodpanda which last monthgave up in Vietnam after…
Foodora – an upmarket little sister of mass market food delivery monopoly Foodpanda – is destined for Singapore. Foodora Singapore is best described as an “upscale Foodpanda”, a high-end food delivery service targeting cashed-up Millennials who want a higher…
