Chinese online retail firm JD.com Inc said on Tuesday it has led an investment in Vietnamese e-commerce firm Tiki.vn, expanding its Southeast Asia business amid competition from Alibaba Group Holding Ltd and Amazon.com Inc.
BEIJING (Reuters) — Chinese online retail firm JD.com Inc said on Tuesday it has led an investment in Vietnamese e-commerce firm Tiki.vn, expanding its Southeast Asia business amid competition from Alibaba Group Holding Ltd and Amazon.com Inc.
JD.com co-led the financing with Vietnamese entertainment and social media firm VNG Corp, which is an existing investor, it said in a statement on Tuesday.
The firm did not disclose the size of the funding but said that JD.com will become one of Tiki’s largest shareholders alongside VNG following the deal.
