Southeast Asia’s leading e-commerce website Lazada has made a done deal on bagging Singapore’s online grocery shopping destination Redmart, according to an official statement from various sources.
The new acquisition will allow the Alibaba-backed group to benefit on Redmart’s strong fulfillment service in Singapore, as well as expanding Redmart’s expansion and tapping onto Lazada’s seller base, third-party partners, and advanced technologies as it also has plans to offer its services to other countries. The amount of said deal was not disclosed, but business technology website TechCrunch estimates it to be around USD30 to 40 million or roughly around Php1.45-1.94billion.
While the deal is said to be closed this holiday season, it is expected that Redmart will operate independently. “This partnership will help us to increase the scale at which we are able to deliver our mission to save our customers time and money for the important things in life… We are partnering with Lazada to serve our customers better,” RedMart co-founder and CEO Roger Egan said in a statement.
With Amazon entering the region next year, we’ll see a very stiff competition between these two giants in the region. TechCrunch also reports that Amazon also tried to purchase the company as a headstart into its regional foray, albeit for a significantly lower amount which resulted in a call off. Amazon now is building its own network from scratch as a result.
Could we see online grocery shopping soon? Only time could tell.
YugaTech.com is the largest and longest-running technology site in the Philippines. Originally established in October 2002, the site was transformed into a full-fledged technology platform in 2005.
How to transfer, withdraw money from PayPal to GCash
Prices of Starlink satellite in the Philippines
Install Google GBox to Huawei smartphones
Pag-IBIG MP2 online application
How to check PhilHealth contributions online
How to find your SIM card serial number
Globe, PLDT, Converge, Sky: Unli fiber internet plans compared
10 biggest games in the Google Play Store
LTO periodic medical exam for 10-year licenses
Netflix codes to unlock hidden TV shows, movies
Apple, Asus, Cherry Mobile, Huawei, LG, Nokia, Oppo, Samsung, Sony, Vivo, Xiaomi, Lenovo, Infinix Mobile, Pocophone, Honor, iPhone, OnePlus, Tecno, Realme, HTC, Gionee, Kata, IQ00, Redmi, Razer, CloudFone, Motorola, Panasonic, TCL, Wiko
Best Android smartphones between PHP 20,000 - 25,000
Smartphones under PHP 10,000 in the Philippines
Smartphones under PHP 12K Philippines
Best smartphones for kids under PHP 7,000
Smartphones under PHP 15,000 in the Philippines
Best Android smartphones between PHP 15,000 - 20,000
Smartphones under PHP 20,000 in the Philippines
Most affordable 5G phones in the Philippines under PHP 20K
5G smartphones in the Philippines under PHP 16K
Smartphone pricelist Philippines 2024
Smartphone pricelist Philippines 2023
Smartphone pricelist Philippines 2022
Smartphone pricelist Philippines 2021
Smartphone pricelist Philippines 2020
cruizer says:
Usd 30 to 40 million isn’t just 145 million pesos. It’s about 1.5 billion
P says:
There’s already Metromart and Pushkart