Morgan Stanley Reports Indonesia's Ecommerce Market Topped the Estimated; Already Grown by 50% in the Past Two Years
The size of Indonesia’s ecommerce market is estimated at $13 billion, topping the previous estimation of $7.3 billion. Morgan Stanley also unveils that ecommerce accounts for 8% of total retail sales in Indonesia and it is on course to reach 18% by 2023.
Morgan Stanley’s study indicates that such growth is fueled by changing behavior among tech-savvy customers who are willing to spend more for convenience. With 65% of the respondents saying they had started shopping online, Indonesia is reported to be only five years behind China in terms of penetration.
Amazon's Revenue Gains 20% During the Holiday, Expects Shoppers to Spend $484 Billion Globally in 2019
Amazon posts a revenue $72.4 billion in the fourth quarter, the busy holiday quarter, topping the analysts’ projection by almost $500 million. Overall revenue rose 20%, and the company’s “other” revenue category, which is mostly advertising, grew 95 percent to $3.39 billion in the quarter. Analysts state that the increase showed Amazon still has room to grow in its core business.
Shared along with its quarterly report, Amazon unveils its 2019 target that sees its shoppers to spend $484 billion globally this year. It also targets to capture more than half of all online spending in the US.
iflix and Twitter Combine Live-streaming and Social Media Commentary through iflix's New Webview Player
In the partnership between iflix and Twitter, Southeast Asian football fans will have direct access to over 200 Malaysian Football League (MFL) matches on all connected devices via Twitter on iflix’s new Webview Player. iflix will integrate real-time highlights, clips, and interviews, available via Twitter moments.
In addition, iflix is collaborating with football portals Semuanya Bola and Goal.com to bring live matches closer to the fans with the integration of iflix’s live stream service. With iflix’s live streaming technology with Twitter’s real-time engagement, this development will enhance the viewing experience and bring fans even closer to the game.
Dacsee is making its foray into other Southeast Asian markets this year after seeing the bookings jumped almost 800% in six months. The Malaysia-based decentralized social ride-sharing platform blockchain technology and decentralization to reduce platform (middleman) fees and create a self-sustainable ecosystem.
The startup recently signed a Memorandum of Agreement (MOA) with two public listed companies from Korea, Hanryu AI Centre Co Ltd and Sports Seoul Co Ltd to start services in Korea. The companies will also be developing a unique artificial intelligence (AI) technology to be embedded on Dacsee’s platform.
Six Months After IPO, Pinduoduo is Raising More than $1 Billion to Compete with Chinese Ecommerce Giants
In just six months after China’s social commerce platform, Pinduoduo launched its IPO on Nasdaq, the company is planning to sell 37 million shares that will raise over $1 billion.
Should the underwriters exercise their full share purchase option, Pinduoduo may raise up to $1.25 billion. The event will also see a number of existing backers sell a portion of their stock, those sellers including Sequoia China, Lightspeed China, and Banyan.