e-commerce

SingPost's US e-commerce units seek bankruptcy protection

SINGAPORE (Sept 19): Singapore Post (SingPost) today announced that its two e-commerce businesses in the US – Jagged Peak and TradeGlobal – have filed for voluntary petitions for relief under Chapter 11 of the US Bankruptcy Code.

This came on the back of the group failing to find a buyer for the two e-commerce units. It ran a comprehensive sale process over almost six months, which saw 105 interested parties that signed non-disclosure agreements and led to eight expression of interest and finally two non-binding offers.

Sea rolls with Garena’s gaming business but e-commerce unit Shopee remains in the red

(Sept 16): When Shopee was launched four years ago, the event was held at a second-floor café with about 30 people attending. On Sept 3, the e-commerce subsidiary of New York-listed, Singa pore-based Sea officially opened for business in its own brand-new six-storey building, with Deputy Prime Minister Heng Swee Keat as the guest of honour.

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Keppel Logistics subsidiary UrbanFox expands to Vietnam and Malaysia

SINGAPORE (Aug 20): Logistics and e-commerce solutions provider UrbanFox, a subsidiary of Keppel Logistics, is enlarging its Southeast Asia footprint.

Leveraging Keppel Logistics’ network, UrbanFox says it is expanding to Vietnam and Malaysia to support brands there in meeting their business-to-business and business-to-consumer demands.

This includes handling logistic needs from warehousing, inventory management and last-mile fulfilment, as well as marketing products on online marketplaces.

How Shopify turned a reality TV star into a billionaire

SINGAPORE (Aug 5): Who was the youngest person ever to become a billionaire? Here’s a clue: Forget Silicon Valley tech entrepreneurs who started software or internet firms from their university dorm room or their parents’ garage. Last year, Kylie Jenner, the youngest of the Kardashian-Jenner reality TV star brood that includes her famous half-sisters Kourtney, Kim and Khloé, and sister Kendall, became a billionaire in her own right at the ripe old age of 20. 

How Shopify turned a reality TV star into a billionaire

SINGAPORE (Aug 5): Who was the youngest person ever to become a billionaire? Here’s a clue: Forget Silicon Valley tech entrepreneurs who started software or internet firms from their university dorm room or their parents’ garage. Last year, Kylie Jenner, the youngest of the Kardashian-Jenner reality TV star brood that includes her famous half-sisters Kourtney, Kim and Khloé, and sister Kendall, became a billionaire in her own right at the ripe old age of 20. 

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Synagie partners Malaysian government to accelerate e-commerce

SINGAPORE (June 24): Synagie Corporation, which assists brands execute their e-commerce strategies using its cloud-based platform, is in a partnership with the Malaysian government to accelerate e-commerce adoption and drive cross-border e-commerce.

Synagie inks deal with China's Weimob to help Southeast Asian SMEs penetrate China's e-commerce market

SINGAPORE (June 10): Synagie Corporation, the e-commerce enabler, announced that it has signed an agreement with a wholly-owned subsidiary of Weimob to offer its integrated cross-border e-commerce and advertising solutions that will help SMEs in Southeast Asia (SEA) penetrate China’s behemoth social e-commerce market.

DBS helps SMEs in the retail and F&B sectors reduce cost of managing cash

SINGAPORE (June 4): DBS says that digital transactions from its SME customers have increased by 70%, while transaction value has increased by 25%, since the bank launched DBS MAX, Singapore’s first mobile-based QR payment collection solution four months ago.

DBS MAX has been steadily expanding, with now around 2,000 merchants and over 3,000 outlets across Singapore adopting this solution. With this, companies are able to enjoy the ease and convenience of ‘plug-and-play’ digital payments collection solution.

Synagie to assist in managing online sales for Samsonite

SINGAPORE (May 6): Synagie Corporation, the e-commerce enabler, has agreed to help Samsonite international, manage the online sales of Samsonite International’s brands, marking the group’s foray into the travel and lifestyle e-commerce sector.

ShopBack raises US$45 mil in latest funding round

SINGAPORE (Apr 10): ShopBack, the rewards and discovery platform, has secured US$45 million ($60.9 million) in its latest funding round, bringing the company’s total funding to US$83 million.

This latest funding round sees new investors, including co-leads EV Growth and Rakuten Capital, as well as EDBI, a government-linked strategic investor, along with other existing investors. Following which, Amit Patel, CEO of Ebates, a Rakuten company, and Willson Cuaca, managing partner of EV Growth, will join ShopBack’s board of directors.

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