Welcome to Tech in Asia’s daily newsletter, your essential dose of Asia’s tech and startup buzz. Not yet a subscriber? Register here. Got a story tip? Send it to editors@techinasia.com.
In focus
- Will Ninja Van leave ecommerce logistics?
- Dat Bike eyes Thailand expansion after US$22 million raise
- GoTo secures $286m four-year loan facility
Hello reader,
Not long ago, I saw a new SPX Express branch near my house in Jakarta. This drove home to me just how aggressive Sea has been in strengthening its in-house logistics network.
Many third-party logistics (3PL) hubs have shut down in the past two years. In fact, around my neighborhood, you can only see signs of JNE and J&T Express.
The situation is very different from the Covid-19 lockdown period, when 3PL branches were everywhere. Now, they’re coping with reduced shipment volumes and price wars as consumers continually demand for free shipping.
Ninja Van, despite being a VC-backed company, has been struggling as well.
The Singapore-headquartered logistics player recently exited Vietnam, laid off employees in Singapore, and raised funding at half of its previous valuation. The company has been shifting its focus to B2B and cold chain deliveries since last year, largely due to the fierce competition in ecommerce logistics.
In today’s first Top Story, Melissa Goh and I go deeper into the possibility of Ninja Van quitting ecommerce logistics. Of course, it’s possible that the firm’s pivot to B2B and cold chain could push it back to growth and a much awaited IPO.
This edition also features insights from the interview between our reporter Glenn Kaonang and Dat Bike’s CEO and founder Son Nguyen about the company’s newly raised US$22 million funding. Nguyen talks about Dat Bike’s future plans, including eyeing expansion into Thailand.
Jofie Yordan, journalist
Top Stories
1️⃣ Is it time for Ninja Van to quit ecommerce logistics?
Photo credit: Ninja Van
Ninja Van is one of Southeast Asia’s e-logistics unicorns, but players like J&T Express and Sea’s SPX are now threatening its position. Ninja Van’s pivot to B2B and cold chain logistics may have come “a bit late,” sources tell Tech in Asia.
A data story you shouldn’t miss
Trending news
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
