Tiki clears ownership confusion, says JD.com not biggest stake holder

Thursday, Aug 08, 2019 10:51

Stakes held in Vietnamese e-commerce site Tiki by country. — Photo courtesy of the company

Vietnamese e-commerce company Tiki has clarified that one of the world’s largest e-commerce companies, China’s JD.com, is not its largest stakeholder as erroneously thought.

In a press release on August 7, it said the 25.65 per cent ownership by JD.com mentioned on the National Portal on Business Registration as of June 26, 2019, is in fact inaccurate and pertains to an older date.

But it refused to disclose the actual stake held on that date by JD.com.

The chart shows Chinese ownership in the company to be 21.47 per cent.

Vietnamese gaming and technology company VNG owns a 24.6 per cent stake.

Tiki was founded by Tran Ngoc Thai Son in 2010 with a capital of US$5,000.

It has since received funding from a number of investors: VNG and JD.com, the Singapore Government’s EDBI, Korea’s STIC and KIP, and Japan’s CyberAgent Ventures and Sumitomo.

Tiki was one of the top six e-commerce sites in Southeast Asia in terms of traffic in the last quarter of last year, according to iPrice. — VNS


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