JD has signed the share subscription agreement as co-lead investor in Tiki’s recent Series C round of financing. Closing of the Series C round is subject to satisfaction of customary closing conditions. Upon completion of this investment, JD.com will become one of Tiki’s largest shareholders.
JD will partner with Tiki in a range of areas including merchandising, cross-border trade, logistics and fulfillment, technology, financing, and operational capabilities. JD already has an established e-commerce platform in Indonesia, and recently partnered with Thai conglomerate Central Group to enter Thailand. With its investment in Tiki, JD adds Vietnam to its growing Southeast Asia presence.
“We are very excited to continue our Southeast Asia expansion with Tiki, a company that has a deep understanding of Vietnam and a reputation for outstanding customer service,” said Winston Cheng, President of International at JD.com.
Son Tran, Tiki’s Founder and CEO said JD and Tiki shared the same business philosophy: to win market share by winning consumers’ heart. Since inception, Tiki has always focused on best-in-class, authentic shopping experience and amazingly fast delivery.
Tiki and JD will cooperate to deliver a wider authentic selection from global brands to consumers, while helping Vietnamese local brands in expanding internationally via JD’s global platform.