E-commerce

Boosted by the COVID-19 outbreak, livestreaming e-commerce in China is in its heyday.

Livspace projects to grow into a USD 500 million business within the next 2-3 years.

With high mobile phone and internet penetration, the e-commerce sector is set to grow with the entry of international players like Alibaba-backed Daraz Group.

The startup’s case is a cautionary tale for anyone who equates large investment rounds with success.

This round of funding comes 10 months after it raised USD 45 million last year.

The company, a joint venture between Telkom and eBay, has been operating since 2014.

The startup, which currently operates in Eastern China only, wants a slice of the USD 733 billion fresh food retail market.

Kuaishou plans to incubate 100,000 businesses and help them achieve USD 146,000 in annual sales within the year.