Xiaohongshu, the popular social commerce platform in China, is eyeing an IPO in the US as soon as this year and has recently hired Citigroup’s former Hong Kong–based Managing Director as Chief Financial Officer, as part of the preparation for the listing. The sources said the IPO could bring Xiaohongshu’s valuation at more than USD 10 billion, much more than its latest private valuation of USD 6 billion.
Read MoreThe increase in digital connectivity and the evolution of new technologies has bridged the gap that existed between e-commerce and social media - social commerce. SE Asia has further paved the way for social commerce to spread its wings across the region. Growing digital usage, greater adoption of social shopping technologies and a global pandemic has accelerated social commerce in SE Asia.
Read MoreWhen it comes to social commerce, not only Alibaba but also many other e-commerce giants like JD have integrated social media features such as content community and video streaming into the sales process. Over the years, the Chinese e-commerce market has changed a lot, revolutionizing the traditional system for both consumers and sellers. Embedding social media within e-commerce is powerful that it allows customers to know more about brands through community content like product reviews before buying, and to make a purchase within their social media experience.
Read MoreFor Asian tech companies, the battleground of them has expanded into the lifestyle sector. They are scrambling to capture grocery shoppers of all ages. It is noticeable that a new business model that’s getting a lot of funding is that of Nice Tuan, the so-called community group buying. Thus, tech companies are clearly aggressive about online grocery and are diversifying their portfolios to secure market shares.
Read MoreFor Asian tech companies, the battleground of them has expanded into the lifestyle sector. They are scrambling to capture grocery shoppers of all ages. It is noticeable that a new business model that’s getting a lot of funding is that of Nice Tuan, the so-called community group buying. Thus, tech companies are clearly aggressive about online grocery and are diversifying their portfolios to secure market shares.
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