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Go-Jek is building up its arsenal to expand in Southeast Asia and fight Singapore-based rival Grab.
Zhang’s endeavour to transform old-school shopping using data analysis to manage inventory and shipping has driven more than $8 billion of deals in endeavourseveral years.
New investors included Japanese entrepreneur Taizo Son’s Mistletoe Inc. and Korea Venture Investment Corp.
Jack Ma will step down as executive chairman of Alibaba Group Holding Ltd. in 2019, handing the reins to Daniel Zhang, who became chief executive officer barely three years ago. The 46-year-old certified accountant has been the driving force behind a mandate to transform old-school commerce using technology that it’s dubbed “ New Retail.”
It’s on track to raise $3 billion of funding before the end of this year, co-founder Hooi Ling Tan said.
Sea’s invested heavily to expand into payments, e-commerce, where Shopee takes on Alibaba-backed Tokopedia, Lazada.
Hearty founders have defied a lack of technology and support to start their own ventures.
Current backers, including Tencent & Warburg Pincus, have discussed providing more funding to the firm.
After raising $85 million in a recent funding round, Carousell plans to build out its existing markets, which also include Indonesia, the Philippines and Taiwan, before expanding to more countries.
Alpha JWC will contribute as much as $5 million in funding for PayPal Incubator. After being selected by PayPal and Alpha JWC senior executives in Singapore and San Jose, startups will receive coaching and mentoring from PayPal executives.