Thai beverage maker TCC Group acquires e-commerce firm Tarad.com

Thai beverage and retail conglomerate TCC Group on Tuesday is acquiring a majority stake in Tarad.com, a leading domestic e-marketplace operator, to expand its reach in Thailand’s e-commerce market.

Financial details of the acquisition were not disclosed but local media reports estimated a price tag of at least THB250 million ($8 million).

On its Facebook page, Tarad.com confirmed the majority stake acquisition, which will be carried out by TCC’s digital arm, T-Space Digital Co.

Established this month with a registered capital of THB1 million ($32,000), T-Space will hold a 51 per cent share in Tarad.com while founder Pawoot Pongvitayapanu will hold the remaining 49 per cent. Pongvitayapanu will continue to manage the e-marketplace operator.

The acquisition was sealed after one year of negotiations, according to Marut Burannasetkul, president and chief executive of T-Space, a subsidiary of Adelfos, the digital and media investment arm under TCC Group.

TCC Group has five businesses spanning food and beverage, industrial and trade, insurance and finance, property, and agriculture.

Established in 2001, Tarad.com has around 200,000 merchants and is among the top 10 e-commerce businesses in the country. It operates tarad.com, tarad-plaza.com, taradquickweb.com, and ThaiSecondhand.com.

Rakuten acquired 67 per cent of Tarad.com in 2009 for $3.35 million but sold its stake back to the Thai firm in 2016 following a strategic overhaul of the Japanese firm’s business in Southeast Asia.

Thailand’s e-commerce market has been projected by Google and Temasek to become the second biggest in Southeast Asia after Indonesia by 2025, capturing nearly 13 per cent of the overall market. Online retail in the country is forecast to reach $5.31 billion in 2021, an increase of 1.8 times from a projected market volume of $2.95 billion in 2017.

Also Read:

Japan’s Rakuten to exit Thailand’s ecommerce co Tarad.com in Feb

Thailand’s Ookbee Mall to shut down B2C online business in March

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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.