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Shopee was founded in 2015 in Singapore, and subsequently expanded its operations to other countries. [4] As of 2023, Shopee is recognized as the largest e-commerce platform in Southeast Asia, with a total gross merchandise volume (GMV) of $47.9 billion. [5] This figure represents nearly half of the total GMV of the Southeast Asian market. [6]
By 2014, Garena was valued at US$ 1 billion by The World Startup Report and was ranked as the largest internet company in Singapore by The Economist. [ 12 ] [ 13 ] In March 2015, the Ontario Teachers' Pension Plan (OTPP), one of the largest pension funds in the world, invested in Garena, increasing the value of the company to over US$2.5 billion.
Today, ShopBack averages an order every 2 seconds, with an annualised sales figure of over US$500 million and 5 million users in early 2018. [ 16 ] In April 2019, ShopBack announced that it has closed a US$45 million round led by new investors Rakuten Capital and EV Growth, bringing their total funding to US$85 million.
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Ninja Van raised US$279 million in its Series D funding round in May 2020 which included backers like France's GeoPost SA and Grab. [ 2 ] [ 17 ] [ 18 ] [ 19 ] In September 2021, Ninja Van announced that it has raised US$578 million in its Series E funding round, led by Alibaba Group , DPDgroup, and B Capital .
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In 2018, MR. DIY embraced e-commerce by establishing an online store and presence on Shopee. [11] In October 2020, MR. DIY became a publicly traded company on the Bursa Malaysia stock exchange. [12] [13] MR. DIY's international expansion began in November 2021 with the opening of its first store in Turkey at Meydan Istanbul Mall.
As of 2022, there were an estimated 58 million active e-wallet users in the Philippines. From 2013 to 2020, GCash focused on bringing new features to its app including QR -based payments, mobile and gaming credit purchases, online checkout, barcode cash-in, bills payment, and the support for InstaPay which enabled interbank transfers.