For the first quarter of 2018, Tencent-backed Sea has reported a net loss of $215.6 million, compared with $73.1 million a year earlier. Meanwhile, its total revenue rises 65% to $155 million.
According to the article, the loss is due to from rising costs at mobile-shopping unit Shopee as it strives to lure more users with shipping and other promotions. Sea has been struggling since its initial public offering in October. It has invested heavily to expand beyond games into payments and ecommerce.
Following the recent fund raised of $2.5 billion, the logistics unit of JD.com has invested $306 million in ESR Cayman, a pan-Asia logistics real estate developer. Via its logistics unit, JD.com will take a stake in ESR while ESR would cooperate with JD.com in areas such as property development, fund management and investment across the region.
Thailand's Real-Estate Data Analytics Startup Gets Funding from Krungsri Bank, 500 TukTuks, PTT Company and SCG's AddVentures
Providing information from Big Data sources to consumers and businesses on marketplace and data analytics-driven platforms, Baania received an undisclosed sum to further develop Big Data-based property technology.
The investment secured this round is from Krungsri Finnovate, the corporate venture capital (CVC) arm of local banking major Krungsri, and state-owned oil & gas company PTT Public Company. This round is also joined by Thai conglomerate SCG-backed venture fund AddVentures, besides 500 TukTuks.
One of the most popular ecommerce firms in Vietnam, Tiki.vn, has tripled its charter capital and is seven times its loss in 2016. Given high operational costs in a competitive market like Vietnam, Tiki.vn is not the only ecommerce company financially suffering to survive. Some local ecommerce companies like Lingo.vn, Deca.vn and Beyeu.com have also been forced to shut down due to prolonged losses.