Tiki raises $258 mln from global investors
In this article (5)
E-commerce company Tiki raised $258 million in its latest funding round as it eyes a U.S. IPO.
The Series E funding round was led by AIA Insurance, and included UBS AG London Branch, Mirae Asset-Naver Asia Growth Fund, and Taiwan Mobile Co.
Tiki had planned to list in the U.S. by 2025, but it now plans to do so in a year’s time, Tiki founder and Chief Executive Officer Tran Ngoc Thai Son said in an interview.
The company expects revenue growth of 40-50 percent in the next few years, he added.
Vietnam is expected to have 53 million online consumers, or 71 percent of its population aged 15 and older, by the end of this year, an 8 percent rise from 2020, according to a report in August by Facebook and Bain & Co.
Tiki in June raised VND1 trillion dong ($44 million) from bonds issuance.
Questions & Answers
Q.Which entities led or participated in Tiki's recent funding round?
Which entities led or participated in Tiki's recent funding round?
The Series E funding round was led by AIA Insurance. Other participants included UBS AG London Branch, Mirae Asset-Naver Asia Growth Fund, and Taiwan Mobile Co.
Q.What is Tiki's updated timeline for a U.S. IPO?
What is Tiki's updated timeline for a U.S. IPO?
Tiki founder and CEO Tran Ngoc Thai Son stated the company now plans to list in the U.S. Within a year, an accelerated timeline from its previous goal of by 2025.
Q.What revenue growth does Tiki anticipate for the coming years?
What revenue growth does Tiki anticipate for the coming years?
Tiki expects to see revenue growth of 40-50 percent in the next few years. This forecast was provided by the company's founder and CEO.
Q.How many online consumers is Vietnam projected to have this year?
How many online consumers is Vietnam projected to have this year?
Vietnam is expected to have 53 million online consumers by the end of this year. This represents 71 percent of its population aged 15 and older, an 8 percent increase from 2020.
Reader pulse
What do you think of Tiki's accelerated IPO plan?
20,582 votes so far