Alibaba’s Lazada cuts staff across Southeast Asia in fresh round of layoffs

Lazada is the third-largest e-commerce player in Indonesia, after Sea Limited’s Shopee and Tokopedia, according to Momentum Works. Matt Hunt | Lightrocket | Getty Images SINGAPORE — Alibaba-owned Lazada began its latest round of layoffs on Wednesday, a person with direct knowledge of the matter told CNBC, following a slew of media reports about cuts … Read more

Alibaba’s Lazada woos sellers affected by Indonesia’s e-commerce ban

Lazada is the third-largest e-commerce player in Indonesia, after Sea Limited’s Shopee and Tokopedia, according to Momentum Works. Matt Hunt | Lightrocket | Getty Images Lazada, a Southeast Asian e-commerce marketplace owned by Alibaba, is courting sellers affected by Indonesia’s latest e-commerce regulation, its Indonesia CEO James Chang told employees in a town hall meeting … Read more

Tencent-backed J&T Express fell in Hong Kong IPO debut

Courier handing over package asking female customer to do electronic signature, delivering, receiving, efficiency 10’000 Hours | Digitalvision | Getty Images Shares of Indonesia’s J&T Express fell 1.33% when it went public on Friday. The logistics service provider traded at 11.84 Hong Kong dollars ($1.51) on Friday morning, after opening at HK$12. The HK$3.92 billion … Read more

TikTok to invest billions of dollars in Southeast Asia, CEO says

TikTok CEO Shou Zi Chew speaks at the TikTok Southeast Asia Impact Forum in Jakarta on June 15, 2023. Bay Ismoyo | Afp | Getty Images Short video app TikTok, owned by China’s ByteDance, said on Thursday it would invest billions of dollars in Southeast Asia over the next few years, as it doubles down on the … Read more

VC firms will be pickier in 2023

Venture capital-backed companies only raised $369 billion for the first three quarters of 2022, according to Crunchbase data. A total of $679.4 billion was invested globally in 2021. Malte Mueller | Fstop | Getty Images Venture capital firms in Southeast Asia will probably be pickier next year, with valuations plunging and economic headwinds slowing growth … Read more