Alibaba’s Lazada posts first monthly profit amid intense competition in Southeast Asia

Alibaba’s Lazada posts first monthly profit amid intense competition in Southeast Asia

Lazada, the Southeast Asian online shopping platform of Alibaba Group Holding, has achieved a monthly profit for the first time, according to an internal announcement. In an announcement during the firm’s town hall meeting on Tuesday, Singapore-based Lazada was said to have recorded positive earnings before interest, taxes, depreciation and amortisation (Ebitda) – an alternate … Read more

ByteDance-owned TikTok explores local services markets in Indonesia and Thailand

ByteDance-owned TikTok explores local services markets in Indonesia and Thailand

TikTok, the global hit short video platform owned by ByteDance, is set to jump into Southeast Asia’s local services sector, initially enabling users in Indonesia and Thailand to obtain vouchers for restaurants, flights and hotels via links on their feeds. Restaurants owners and merchants in those two countries are being encouraged to join the social … Read more

ByteDance said to cut 450 jobs in Indonesia after deal merging TikTok Shop with Tokopedia

ByteDance said to cut 450 jobs in Indonesia after deal merging TikTok Shop with Tokopedia

The reductions, equal to about 9 per cent of employees at the Indonesian unit, will commence as soon as this month, according to people familiar with the matter. The final number is under discussion and could fluctuate as conditions change, the people said. Indonesia is among the earliest markets for ByteDance’s e-commerce ambitions – and … Read more