WeCare has received seed investment from TheVentures, a global investor and incubator for early-stage startups in Korea. In a separate development, Singapore-listed Parkson Retail Asia Ltd has agreed to sell the whole retail podium of Parkson TD Plaza Shopping Center in the northern city Hai Phong, Vietnam, for a consideration of $10 million.
WeCare raises funding from TheVentures
Vietnam’s online community for moms WeCare has raised a seed funding from TheVentures, a global investor and incubator for early-stage startups in Korea, according to an announcement.
Financial terms of the transaction were not disclosed.
WeCare allowing its users to share childcare-related product information and purchase products that are linked to purely user-generated recommendations and reviews.
These reviews provide Vietnamese moms with information such as nutritional needs during pregnancy for healthy childbirth. The business follows a ‘referral system’ that enables career-interrupted women to get commissions for successful transactions.
“TheVentures is now actively making cross-border investments. We recently launched Impact Collective, a community-driven acceleration program aiming to discover, cultivate, and invest in startups focusing on opportunities in Asia. In addition to WeCare, we look forward to making more investments in impact-driven Southeast Asian startups,” said TheVentures Partner Daehyun Kim.
SGX-listed Parkson Retail Asia to sell Vietnam asset for $10m
Singapore-listed Parkson Retail Asia Ltd has agreed to sell the whole retail podium of Parkson TD Plaza Shopping Center in the northern city Hai Phong, Vietnam for a consideration of $10 million, according to a stock exchange filing.
Parkson’s Vietnam operations are owned by Parkson Haiphong Co.Ltd. (PHCL), a wholly-owned subsidiary of Parkson Corporation Sdn Bhd, which in turn is a wholly-owned subsidiary of the Parkson Retail Asia.
The purchaser is a local company Thuy Duong Construction & Trading JSC.
PHCL, incorporated in 2006, owns the property (with land use rights), which has an area of approximately 23,000 square meters.
PHCL is engaged in the business of operating and managing two stores in Ho Chi Minh City and Hai Phong. Following the transaction, PHCL will only continue its business of operating and managing the store in Ho Chi Minh City and will cease to operate any Parkson brand department store in Hai Phong.