Facebook's report shows Indonesia lose out the most business among other APAC countries due to purchasing frictions
Joint-report from Facebook and Boston Consulting Group (BCG), found APAC business to lose out $325 billion in online business a year due to the friction that consumers encountered on their purchasing journey. Indonesia and Thailand came out as the top two countries losing the most business.
By removing these obstacles, the report concluded that key industries such as ecommerce, retail and financial services can grow their annual revenue by $2.63 billion, $2.08 billion and copy $127 million, respectively.
Jungle is focused on Series A and Series B deals in Southeast Asia with the occasional investment in India or the rest of the world where it sees the global potential. This is the third fund for the Singapore-based firm and the executives are hoping it will reach a final close of $220 million.