These ecommerce players are crushing it in Vietnam

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Hello readers,

How many of you have said “bon appetit” when you’re in France or “arigato” when in Japan? Recently, I tried to flex my language skills by greeting our new Vietnamese data analyst with a “xin chào.” She laughed and responded that it’s only tourists who actually say that. Whoops.

No wonder everyone knew I wasn’t a local when I was in Vietnam three years ago, even though I pronounced “xin chào” perfectly! Here’s something else I wish I knew earlier: The top ecommerce players in Vietnam so that I know the best places to shop online.

Today we look at:

• The players in Vietnam’s ecommerce industry
• Gojek owns a quarter of Indonesia’s Bank Jago
• Other newsy highlights such as China’s battle against US sanctions and a bill that affects Alibaba and Baidu on US stock exchanges

PREMIUM SUMMARY

The rising and major players in Vietnam’s ecommerce scene

Vietnam’s ecommerce growth rate is on the up and up, pegged at a staggering 46%, according to the latest e-Conomy report from Google, Temasek, and Bain & Company. Four giants – Shopee, Lazada, Tiki, and Sendo – have already solidified their place in the country, but what other company plays a key role in this market?

• Chasing the market: From the chart, you will notice that Vietnam’s general B2C/C2C ecommerce and electronics vertical ecommerce spaces are rather crowded, with many startups vying for a piece of the pie.
• Uniquely Vietnam: Business-to-business ecommerce in Indonesia is on a hot streak, but that’s not the case for Vietnam, as its B2B ecommerce industry remains pretty much an unexplored frontier.
• Cashing in: In the last three years, the total value of ecommerce deals closed annually in Vietnam has steadily gone up. Some of the best-funded ecommerce startups in the country include Tiki (US$130 million, June 2020) and Sendo (US$61 million, November 2019).

Read more: The rising and major players in Vietnam’s ecommerce scene

STARTUP SPOTLIGHT

Gojek owns a quarter of an Indonesian bank