Philippines: Logistics giant LBC to shut down e-commerce platform TheShopPH

Phlippine logistics giant LBC Express Inc is shutting down its e-commerce platform for merchants TheShop.ph including its online mall TheShop.ph Marketplace.

LBC’s affiliate LovableCommerce.com Corp (LCC), which owns and operates TheShop.ph, made the disclosure in its online notice to merchant members.

TheShop.ph team said, the platform will cease operations on December 31, 2015 while the website will be permanently taken down on February 28, 2016.

Also Read: Philippines: Globe Telecom unit AdSpark acquires social marketing firm Socialytics

And, as part of its winding down efforts, TheShop.ph team turned off recently all credit card payments.

“You can rest assured that you will receive a full refund for your contract. The payout schedule is from January 15 to 30, 2016,” TheShop.ph said in its letter to merchant members.

Launched last year by LBC, TheShop.ph was built on top of LBC’s logistics and payments infrastructure with the goal of serving as online shop builder and go to market tool for small to medium enterprises, including larger businesses, companies, and multinationals.

Also Read: Singapore-based YiLinker expands in SEA with $6m investment in PH

TheShop.ph Marketplace, however, is an online mall and serves as a sales channel and discovery tool that aims to help online shoppers discover and purchase items from TheShop.ph sellers.

In its reply to an inquiry by DEALSTREETASIA, LCC declined to give further details about the closure but referred to it as “due to business restructuring.”

Also Read:

Globe Telecom, Lazada team up for e-commerce strategy

OLX: SEA’s online classified biz mega JV formed

CashCashPinoy plans marketing push, to engage more people

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.