By  on January 16, 2018

HONG KONG–Chinese ecommerce giant JD.com is set to increase its stake in Vietnamese ecommerce portal Tiki, the firm said Tuesday, positioning itself to capture one of the world’s fastest growing online markets. The size of the funding was undisclosed but if the deal is approved JD.com will become one of Tiki’s largest shareholder, following a reported $44 million injection into the site last November. 

Southeast Asia is a key area of growth for ecommerce players. JD.com launched its Indonesia business in 2015 and formed its joint venture with Central Group in Thailand last September. Central Group has a considerable portfolio in Vietnam including the Zalora Vietnam business although most of its other assets are brick-and-mortar retail. JD.com’s biggest rival, Alibaba Group, has a majority stake in Lazada, which operates throughout the region.

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