Y Ventures Group establishes new subsidiary to develop a Global Buying Concierge With SingPost
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Singapore’s Y Ventures Group has established a subsidiary to develop the Aora platform, a global buying concierge that will focus on cross-border purchases on behalf of consumers in Asia.
The group has also signed a memorandum of understanding with e-commerce logistics and communications service provider Singapore Post with the aim of collaborating on developing an e-commerce platform with last-mile delivery services, plus share data on buying trends and consumer preferences in new markets.
The group’s wholly owned subsidiary Luminore 8 will also focus on developing logistics-related technology and algorithms to enhance efficiency across the vertical logistics chain to accelerate the global expansion of both parties.
“This collaboration reflects SingPost’s commitment in building a strong ecosystem for e-commerce logistics,” sats Singapore Post VP Lee Hon Chew.
The Aora buying platform is slated for a limited beta launch late this year.
Questions & Answers
Q.What is the purpose of the new Aora platform being developed by Y Ventures Group?
What is the purpose of the new Aora platform being developed by Y Ventures Group?
The Aora platform will function as a global buying concierge, specifically focusing on cross-border purchases for consumers located in Asia.
Q.What is the nature of the collaboration between Y Ventures Group and Singapore Post?
What is the nature of the collaboration between Y Ventures Group and Singapore Post?
They plan to collaborate on developing an e-commerce platform with last-mile delivery, and will also share data on consumer trends and preferences in new markets.
Q.Which subsidiary of Y Ventures Group is involved in developing logistics technology?
Which subsidiary of Y Ventures Group is involved in developing logistics technology?
Y Ventures Group's wholly owned subsidiary, Luminore 8, will focus on developing logistics-related technology and algorithms to improve efficiency.
Q.When is the Aora buying platform expected to be launched?
When is the Aora buying platform expected to be launched?
The Aora buying platform is scheduled for a limited beta launch later this year.
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