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Top related persons:
Shou Zi Chew - 2 Lazada - 1 James Chang - 1 Chang - 1 Joko Widodo - 1 Forrest Li - 1 GoTo - 1 Sachin Mittal - 1
Top related locs:
Indonesia Southeast Asia TikTok Indonesia Singapore Lazada Sea's Jakarta TikTok
Top related orgs:
Works - 1 CNBC - 1 TikTok - 1 Sea Ltd - 1 Bloomberg - 1 Getty - 1 Local - 1 DBS Bank - 1

Search resuls for: "Alibaba's Lazada"


3 mentions found


☆ Alibaba's Lazada is courting sellers affected by Indonesia's e-commerce ban on social media
  + stars: | 2023-10-06 | by ( Sheila Chiang | ) www.cnbc.com   time to read: +1 min
Lazada is the third-largest e-commerce player in Indonesia, after Sea Limited's Shopee and Tokopedia, according to Momentum Works. 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 on Friday. In recent weeks, Indonesia has cracked down on social media platforms facilitating e-commerce, such as TikTok, in a bid to protect domestic businesses. Indonesia banned social media purchases and set a one-week deadline last week for TikTok to become a standalone app, without any e-commerce feature, or face closure. In response, TikTok Indonesia said Tuesday that it will comply with local laws and stop facilitating e-commerce purchases.
Persons: Lazada, James Chang, Chang, Joko Widodo Organizations: Works, CNBC, TikTok Locations: Indonesia, TikTok Indonesia
☆ Sea pivoted to growth over profits as it faced rising competition from TikTok, Lazada, analysts say
  + stars: | 2023-08-18 | by ( Sheila Chiang | ) www.cnbc.com   time to read: +4 min
But analysts said the pivot is a move to defend market share. Defending your market share is the right strategy in e-commerce. CEO Shou Zi Chew said in June that TikTok would invest billions of dollars in Southeast Asia over the next few years to gain market share. Sea's decision to accelerate ecommerce investments in growth is likely to materially weigh on its earnings and share price in the near-term. "Sea's decision to accelerate ecommerce investments in growth is likely to materially weigh on its earnings and share price in the near-term," said JPMorgan.
Persons: Forrest Li, GoTo, Sachin Mittal, Woo, Li, JPMorgan, Jonathan Woo, Shou Zi Chew, TikTok, Alibaba's Lazada, Sea's Shopee, Lazada's GMV Organizations: Sea Ltd, Bloomberg, Getty, Local, DBS Bank, Phillip Securities Research, JPMorgan, Momentum Works Locations: Singapore, Lazada, Southeast Asia
☆ TikTok to invest billions of dollars in Southeast Asia, CEO says
  + stars: | 2023-06-15 | by ( ) www.cnbc.com   time to read: +1 min
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 region amid intensifying global scrutiny over its data security. Southeast Asia, a region with a collective population of 630 million — half of them under 30 — is one of TikTok's biggest markets in terms of user numbers. "We're going to invest billions of dollars in Indonesia and Southeast Asia over the next few years," TikTok CEO Shou Zi Chew said at a forum it organised in Jakarta to highlight the social and economic impact of the app in the region. TikTok did not provide a detailed breakdown of the spending plan, but said it would invest in training, advertising and supporting small vendors looking to join its e-commerce platform TikTok Shop. Chew said content on its platform was becoming more diversified as it adds more users and expands beyond advertising into e-commerce, allowing consumers to purchase goods through links on the app during livestreaming.
Persons: China's ByteDance, Alibaba's, Shou Zi Chew, Chew Locations: Southeast Asia, Sea's, Indonesia, Jakarta, TikTok
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