Tag Archives: ECM

PR Newswire

24Tidy acquired the world’s largest laundry factory during the economic recovery of Chinese consumer market

Leave a comment

SHANGHAI, April 30, 2020 /PRNewswire/ — On April 29th, 24Tidy (Shanghai) Network Technology Inc. announced its 950 million RMB acquisition of Tiantian Laundry (Guangzhou) Co., Ltd. in its strategy press conference in Beijing. As one of the largest online life services companies in China, 24Tidy has served over 12 million families with its excellent services that include laundry, flower, etc. Tiantian has been a famous brand in the laundry industry since 1991 and owns the largest centralized smart laundry factory in the world.

24Tidy completed the acquisition of the world's largest laundry factory with the early green shoots in Chinese market
24Tidy completed the acquisition of the world’s largest laundry factory with the early green shoots in Chinese market

While many industries are suffering during the epidemic, the online economy has experienced dramatic growth since the beginning of 2020. When people keeping stay at home because of COVID-19, online services have been used by more and more customers covering all ages in China. 

The founder of 24Tidy, Yao Zongchang said, “24Tidy and Tiantian Laundry had reached the agreement before the epidemic. The outbreak of COVID-19 accelerated our pace to restructure the whole industry while the increasing domestic demands also accelerated the strategic upgrading of 24Tidy.” The online laundry market remains a blue ocean area and obviously 24Tidy seized the timing to make the right move. 24Tidy has provided professional online washing and disinfection services for more than 1.5 million families with a remarkable growth performance since the outbreak of COVID-19. The average daily active users of 24Tidy App increased by 200% compared with the same period of last year with a continuous upward trend. Also, core technology like AI algorithm used to optimize user experience and customize service by analyzing diversified big data from user consumer behaviors, helps 24Tidy maintain its competitiveness.

There are more than 400 thousand laundry shops in China and most of them are operated by very traditional business mode with small production unit behind the front desk. The old way makes the business owners run the business inefficiently with high cost burden, unable to guarantee high quality of the service and also take great risks of potential pollution to the local communities. This acquisition will make 24Tidy fundamentally lead small laundry business owners to update their business model with empowerment by information system and centralized supply chain, and eventually to resolve those risky issues.

The epidemic will enhance public awareness of health and personal hygiene, which will advance customer’s preferences on professional washing and disinfection of clothing.

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/24tidy-acquired-the-worlds-largest-laundry-factory-during-the-economic-recovery-of-chinese-consumer-market-301049978.html

PR Newswire

P&G and Shopee inspires home shopping with ‘Show Me My Home’ experiential microsite in Southeast Asia

Leave a comment

SINGAPORE, April 30, 2020 /PRNewswire/ — Procter & Gamble (NYSE:PG), a leading fast-moving consumer goods company, announces collaboration with Shopee, a leading e-commerce platform in Southeast Asia and Taiwan, with the launch of Show Me My Home*, an online campaign that simulates the household environment to provide consumers with a seamless and easy online shopping experience.

P&G products available on Shopee's Show Me My Home Campaign
P&G products available on Shopee’s Show Me My Home Campaign

This collaboration sees P&G coming in with the shopper insights and innovations, and Shopee’s platform and technology to offer users across the region a fun, engaging and convenient way to shop. A first-of-its-kind initiative, Show Me My Home features a one-stop shop offering P&G products (see appendix for full list) categorized by rooms and will be available via a dedicated P&G microsite on Shopee’s platform. A staggered launch of the microsite will be available to consumers in key SEA markets including Malaysia, Indonesia, Singapore, Vietnam, Thailand and the Philippines.

With a shared vision to serve the region’s increasingly savvy digital consumers at scale, this campaign is designed to enable consumers to feel and experience the products by bringing the element of reality onto a digital platform. “At P&G, we are always looking for ways to innovate in order to serve our consumers better. Online shoppers today want the information they need when they need it, at the click of a mouse or a swipe of a tablet or smartphone,” says Kim Dong Hyun, Regional Director, eCommerce, APAC Middle East Africa. “And retailers have only milliseconds to grab their attention and complete any transaction. The collaboration with Shopee reflects P&G’s commitment to provide consumers with convenient access to P&G products as we broaden our capabilities online through upcoming, relevant and meaningful engagement with our consumers. With a platform like Shopee, we are able to serve even more consumers across the region and integrate value-added services such as localized payment and shipping options.”

Ian Ho, Regional Managing Director at Shopee, said, “At Shopee, we are constantly innovating to improve our platform, features and offerings in response to the latest industry trends and users’ evolving preferences. As e-commerce becomes increasingly prevalent, it is crucial that we continue to upgrade the online shopping experience; to make it even more fun, personalised and engaging. We are pleased to collaborate with P&G who shares this same vision to pilot the novel Show Me My Home initiative, and to offer a one-of-a-kind experiential shopping journey for our shoppers across the region.”

The Show Me My Home microsite will feature various activities and exclusive content to provide shoppers with a fun and engaging experience when shopping for P&G products on Shopee. This includes curated content on hygiene tips and tricks on Shopee Feed, a special P&G edition of Shopee’s classic Flip & Match game, exclusive live streams on Shopee Live featuring popular Key Opinion Leaders streaming from their homes.

*Link will go live 2 May 2020, 00:00hrs SGT – 4 May 23:59hrs SGT

Photo – https://photos.prnasia.com/prnh/20200429/2789571-1-a?lang=0

About Procter & Gamble

P&G serves consumers around the world with one of the strongest portfolios of trusted, quality, leadership brands, including Always®, Ambi Pur®, Ariel®, Bounty®, Charmin®, Crest®, Dawn®, Downy®, Fairy®, Febreze®, Gain®, Gillette®, Head & Shoulders®, Lenor®, Olay®, Oral-B®, Pampers®, Pantene®, SK-II®, Tide®, Vicks®, and Whisper®. The P&G community includes operations in approximately 70 countries worldwide. Please visit http://www.pg.com for the latest news and information about P&G and its brands.

About Shopee

Shopee is the leading e-commerce platform in Southeast Asia and Taiwan. It was launched in 7 markets in 2015 to connect consumers, sellers, and businesses in the region. Shopee offers an easy, secure, and engaging experience that is enjoyed by millions of people daily. It offers a wide product assortment, supported by integrated payments and logistics, as well as popular entertainment features tailored for each market. Shopee is also a key contributor to the region’s digital economy with a firm commitment to helping brands and entrepreneurs succeed in e-commerce.

Shopee is a part of Sea Limited (NYSE:SE), a leading global consumer internet company. In addition to Shopee, Sea’s other core businesses include its digital entertainment arm, Garena, and digital financial services arm, SeaMoney. Sea’s mission is to better the lives of consumers and small businesses with technology.

Appendix

Country

 

Category of products

P&G Brands

Malaysia

Fabric, Haircare, Skincare, Shave, Home, Feminine Care, Oral Care, Health Care

Dynamo®, Downy®, Fab®, Pantene®, Head & Shoulders®, Herbal Essence®, Rejoice®, Hair Recipe®, Gillette®, Venus®, Joy®, Ambi Pur®, Febreze®, Whisper®, Oral B®, Olay®, Vicks®

Vietnam

Diapers, Fabric, Haircare, Skincare, Shave, Feminine Care, Oral Care, Safeguard

Pampers®, Ariel®, Downy®, Tide®, Pantene®, Head & Shoulders®, Herbal Essence®, Rejoice®, Oral B®, Gillette®, Venus®, Whisper®, Olay®, Safeguard®

Indonesia

Diapers, Fabric, Haircare, Skincare, Shave, Feminine Care, Oral Care, Health Care

Pampers®, Downy®, Pantene®, Head & Shoulders®, Herbal Essence®, Rejoice®, Gillette®, Venus®, Whisper®, Oral B®, Olay®, Vicks®

Singapore

Diapers, Fabric, Haircare, Skincare, Shave, Home, Feminine Care, Oral Care, Health Care

Pampers®, Dynamo®, Downy®, Tide®, Pantene®, Head & Shoulders®, Herbal Essence®, Gillette®, Venus®, Joy®, Ambi Pur®, Febreze®, Whisper®, Oral B®, Olay®, Vicks®, Tampax®, Always®, Bounce®, Bounty®, Charmin®

Thailand

Diapers, Fabric, Haircare, Skincare, Shave, Home, Oral Care, Safeguard, Feminine Care

Olay®, Oral B®, Pampers®, Downy®, Pantene®, Head & Shoulders®, Herbal Essence®, Rejoice®, Gillette®, Venus®, Ambi Pur®, Safeguard®, Whisper®

Philippines

Diapers, Fabric, Haircare, Skincare, Shave, Home, Feminine Care, Oral Care, Safeguard, Health Care

Pampers®, Ariel®, Downy®, Tide®, Pantene®, Head & Shoulders®, Herbal Essence®, Rejoice®, Secret®, Old Spice®, Gillette®, Venus®, Joy®, Ambi Pur®, Whisper®, Oral B®, Olay, Safeguard®, Vicks®
PR Newswire

CouponBirds Seedling Project Made Great Progress

Leave a comment

BEIJING, April 28, 2020 /PRNewswire/ — CouponBirds Seedling Project achieved impressive progress in April, 2020. Over twenty non-profit organizations joined the platform and raised more than $1,000 funds. During this time of uncertainty, The Seedling Project made the fundraising work more manageable for non-profit organizations.

CouponBirds Seedling Project

The mission of CouponBirds Seedling Project is to build a peer-to-peer fundraising platform, encouraging online shoppers to earn cash, donate to nonprofit organizations and support charity work in this difficult time. There are over 3 million shoppers visiting and using CouponBirds to shop and save every month and almost all the brands that shoppers are looking for could be found on CouponBirds. Shoppers earn cash by making purchases and donate part of their earnings to charity organizations.

CouponBirds provided scholarships to fund college students every year in the past. Growing to be a leading savings platform, CouponBirds always does the best to take social responsibilities. The Seedling Project initiation is an effective way to aggregate and amplify the power of a million-user community and give back the best.

How’s The Project Going

The team outreached hundreds of non-profit organizations in the first month, notified them of the event and guided those who were interested to get verified and join in the platform. The team set up the whole application, verification and management process online. Non-profit partners could use CouponBirds charity portal to finish all the preparations and watch the donations they receive from CouponBirds shoppers.

Although the whole economy is slowing down and most charities are working from time to time due to the spread of COVID-19 pandemic, The Seedling Project has welcomed more than twenty certified non-profit organizations joining in and started to raise funds from the platform. Organizations like Arise Children’s Fund, Louisiana Alliance of Children’s Advocacy Centers and Kids Saving the Rainforest have received more than $100 donations in this month.

The Prospects

CouponBirds supports a limited number of non-profit organizations, creating and leading active community engagements for the charity cause. With a small amount of funds raised every month for every non-profit organization, It hopes that every CouponBirds shopper could realize that each of them could do something, even give $1 to the vulnerable and disadvantaged groups and that $1 means much to them, that CouponBirds is doing what they can to help more people and give back to the society.

The project is still open to apply, qualified charity organisations can apply and join to raise funds from CouponBirds Seedling Project.

About CouponBirds

CouponBirds is a leading coupon and deals platform for millions of online shoppers. Customers can easily find their favorite brands such as Amazon, eBay, Best Buy on CouponBirds. To learn more, visit https://www.couponbirds.com/us/about-us or follow @couponbirdscom on social media.

https://www.couponbirds.com/

Cision View original content:http://www.prnewswire.com/news-releases/couponbirds-seedling-project-made-great-progress-301047973.html

PR Newswire

Cango Inc. Filed Its Annual Report on Form 20-F

Leave a comment

SHANGHAI, April 28, 2020 /PRNewswire/ — Cango, Inc. (NYSE: CANG) (“Cango” or the “Company”), a leading automotive transaction service platform in China, today announced that it filed its annual report on Form 20-F for the fiscal year ended December 31, 2019 with the Securities and Exchange Commission on April 27, 2020, U.S. Eastern Time.

The annual report can be accessed on the Company’s investor relations website at ir.cangoonline.com or the SEC’s website at www.sec.gov. The Company will also provide a hard copy of its annual report containing its audited consolidated financial statements, free of charge, to its shareholders and American Depositary Share holders upon request.

About Cango, Inc.

Cango Inc. (NYSE: CANG) is a leading automotive transaction service platform in China connecting dealers, financial institutions, car buyers, and other industry participants. Founded in 2010 by a group of pioneers in China’s automotive finance industry, the Company is headquartered in Shanghai and engages car buyers through a nationwide dealer network. The Company’s services primarily consist of automotive financing facilitation, automotive transaction facilitation, and after-market services facilitation. By utilizing its competitive advantages in technology, data insights, and cloud-based infrastructure, Cango is able to connect its platform participants while bringing them a premium user experience. Cango’s platform model puts it in a unique position to add value for its platform participants and business partners as the automotive and mobility markets in China continue to grow and evolve. For more information, please visit: www.cangoonline.com.

Investor Relations Contact

Caesar Cao
Cango Inc.
Tel: +86 21 3183 5088 ext.5521
Email: ir@cangoonline.com

Jack Wang
ICR Inc.
Tel: +1 (646) 405-5056
Email: ir@cangoonline.com

Cision View original content:http://www.prnewswire.com/news-releases/cango-inc-filed-its-annual-report-on-form-20-f-301047826.html

Source: Cango Inc.

PR Newswire

58.com Announces Appointment of Independent Financial Advisor and Legal Counsel to the Special Committee

Leave a comment

BEIJING, April 27, 2020 /PRNewswire/ — 58.com Inc. (NYSE: WUBA) (“58.com” or the “Company”), China’s largest online classifieds marketplace, today announced that the special committee (the “Special Committee”) of the Company’s board of directors (the “Board”), formed to evaluate and consider the previously announced preliminary non-binding acquisition proposal letter dated April 2, 2020 (the “Proposal”) or any alternative strategic option that the Company may pursue, has retained Houlihan Lokey (China) Limited as its independent financial advisor and Fenwick & West LLP as its legal counsel to assist it in this process.

The Board cautions the Company’s shareholders and others considering trading the Company’s securities that no decisions have been made with respect to the Proposal or any alternative strategic option that the Company may pursue. There can be no assurance that any definitive offer will be received, that any definitive agreement will be executed relating to the transaction contemplated by the Proposal or that any other transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to any transaction, except as required under applicable law.

About 58.com Inc.

58.com Inc. (NYSE: WUBA) operates China’s largest online classifieds marketplace, as measured by monthly unique visitors on both its www.58.com website and mobile applications. The Company’s online marketplace enables local business users and consumer users to connect, share information and conduct business. 58.com’s broad, in-depth and high-quality local information, combined with its easy-to-use website and mobile applications, has made it a trusted marketplace for consumers. 58.com’s strong brand recognition, large and growing user base, merchant network and massive database of local information create a powerful network effect. For more information on 58.com, please visit http://www.58.com.

Safe Harbor Statements

This press release contains forward-looking statements made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. 58.com may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about 58.com’s beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the following: 58.com’s goals and strategies; its future business development, financial condition and results of operations; its ability to retain and grow its user base and network of local merchants for its online marketplace; the growth of, and trends in, the markets for its services in China; the outbreak of COVID-19 or other health epidemics in China or globally; the demand for and market acceptance of its brand and services; competition in its industry in China; its ability to maintain the network infrastructure necessary to operate its website and mobile applications; relevant government policies and regulations relating to the corporate structure, business and industry; and its ability to protect its users’ information and adequately address privacy concerns. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and 58.com does not undertake any obligation to update such information, except as required under applicable law.

For more information, please contact:
58.com Inc.
ir@58.com

Christensen
In China
Mr. Christian Arnell
Phone: +86-10-5900-1548
E-mail: carnell@christensenir.com

In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: lbergkamp@ChristensenIR.com

Cision View original content:http://www.prnewswire.com/news-releases/58com-announces-appointment-of-independent-financial-advisor-and-legal-counsel-to-the-special-committee-301047455.html

PR Newswire

P&G innovate cooperation model in e-commerce livestream

Leave a comment

BEIJING and HANGZHOU, China, April 26, 2020 /PRNewswire/ — Procter & Gamble (P&G) presents exclusive livestream “VVIP2.0” with top e-commerce livestream KOL Viya. The livestream features interaction with P&G executives, guest appearances by celebrity Zhou Shen, and product demonstration by the P&G scientists that shows how new products could be developed, which successfully drive sales.

In April 2019, with its diversified brand power, rich products and extraordinary product quality, P&G positioned itself ahead of the pack as the leading enterprise to enter a strategic partnership with top Taobao livestream KOL Viya, signing on her as P&G Global Hot Products Promoter. On the livestreaming day, Viya was awarded the “Social Marketing Special Contribution Award” by the China Advertising Association for her role model in the e-commerce livestreaming industry.

Livestream2.0 is not just about driving sales, but represents an upgrade in new product incubation and branding. Last year, P&G brands including Pantene and Whisper chose to launch key new products via livestreaming, with great success. This “VVIP2.0” exclusive livestream also features a number of new products launches, creating much excitement among viewers. As collaboration between brands and livestream KOLs push beyond driving sales into co-creation of content, significant new opportunities will open up outside the livestreaming room. 

This partnership between P&G and Viya is not just delighting consumers with compelling content, but breaks new ground for brand-influencer relationship in e-commerce livestreaming. Only by embracing new technologies while using data analysis and expanding social platforms, P&G could develop more innovative marketing and cooperation models.

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/pg-innovate-cooperation-model-in-e-commerce-livestream-301047241.html

PR Newswire

Pintec Selected as 2020 Asia Pacific “FinTech Fast 101” by IDC

Leave a comment

BEIJING, April 24, 2020 /PRNewswire/ — Pintec is included in the 2020 update of its FinTech Fast 101 research, released by IDC Financial Insights (IDC) in March 2020, which details a list of fast-growing FinTechs in Asia/Pacific excluding Japan (APEJ) from 11 key markets. The research refers to fast-growing fintech players from China, India, Indonesia, Singapore, Hong Kong, Thailand, Malaysia, the Philippines, Vietnam, South Korea, and Australia. The list outlines 41 the fastest growth fintech players in China market.

IDC applied its Triple U framework – ubiquity, utility, and usability – to determine this year’s FinTech 101 list. The framework evaluates fintech data across the key metrics including addressable market, customer adoption, investments, alliances and partnerships, innovation, chance of survival, and marketing. In this year’s FinTech 101 research, IDC defined fintech as new models for financial services offered through “nontraditional” vendors. It refers to the companies themselves as well as their products mostly focusing on start-ups delivering services built around the new models and technologies.

As a leading fintech solutions provider, Pintec is committed to providing intelligent technical solutions to business and financial partners, enabling them to provide financial services to end users efficiently and effectively. In recent years, Pintec’s state-of-the-art technical service solutions have served lots of financial and business institutions. Key partners include ICBC, aiBank, East West Bank, China Telecom, China Unicom, Ctrip, Qunar etc.  

In April 2020, Pintec established partnership with international technology giants Automation Anywhere and Blue Prism to help financial institutions drive digital transformation with Robotic Process Automation (RPA), an advanced tool to automate business processes. Going forward, Pintec will continue leverage its strong capabilities in technological innovation and rich experience in financial business to develop intelligent products to better serve the financial market worldwide.

About Pintec

Pintec is a leading fintech solutions provider. With its mission to “Power the Future of Finance”, Pintec aims to advance financial services by providing customized and modular fintech solutions to its financial and business partners, including point-of-sale financing solutions, personal installment loan solutions, business installment loan solutions, wealth management solutions and insurance solutions. The company operates a unique SaaS Plus service model. In addition to the industry-leading SaaS service platform, Pintec also offers a full suite of value-added solutions to its customers, including decision support, traffic enhancement, joint operations, and advisory services. Pintec has cooperated with a number of business and financial partners, including but not limited to Xiaomi, Qunar, Ctrip, China Telecom BestPay, Vip.com, Minsheng Securities, Orient Securities, Yunnan Trust, Guoyuan Securities, Bank of Nanjing, East West Bank, China National Investment & Guaranty Corporation, Fullerton Financial Holdings. On October 25, 2018, Pintec was officially listed on the Nasdaq Global Market with American depositary shares trading under the symbol “PT”.

For more information, please visit www.Pintec.com

Cision View original content:http://www.prnewswire.com/news-releases/pintec-selected-as-2020-asia-pacific-fintech-fast-101-by-idc-301046655.html

PR Newswire

Singapore’s First Multi-Currency Mobile Wallet YouTrip Sees 20% Growth in Consumer Spending On Global E-Commerce Platforms

Leave a comment
  • Popular overseas shopping sites have recorded month-on-month transaction volume growth, such as Taobao (111%), ASOS (60%), Alibaba (41%), Aliexpress (17%)
  • Local e-commerce sites like EZbuy (65%) and Lazada (11%) are hot favourites among Singaporeans
  • Food delivery services grew exponentially between February and March, with PizzaHut Delivery in the lead at 49%, Domino’s Pizza (43%), and Foodpanda (35%)
  • The biggest e-commerce spending growth came from the Gaming category, with Nintendo raking in 278% growth from February to March

SINGAPORE, April 24, 2020 /PRNewswire/ — YouTrip, Singapore’s first multi-currency mobile wallet with over 500,000 downloads, has noted a shift in user spending habits over the past months. In light of the COVID-19 pandemic, both foreign and domestic e-commerce spending has shown resilience in the Singapore market. The top 3 foreign currencies transacted in the month of February include USD, GBP and AUD.

Singapore’s First Multi-Currency Mobile Wallet YouTrip Sees 20% Growth in Consumer Spending On Global E-Commerce Platforms
Singapore’s First Multi-Currency Mobile Wallet YouTrip Sees 20% Growth in Consumer Spending On Global E-Commerce Platforms

When travel restrictions were heightened in February, YouTrip observed a 20% increase in e- commerce spending via YouTrip’s prepaid Mastercard, in both foreign and domestic categories. This follows the trend reported by a Nielsen study that states online purchases of FMCG have reached 8% in February this year, compared to 6% of total e-commerce spending in 2019.

Have Internet, Will Shop

With circuit breaker measures and travel restrictions in place, YouTrip is seeing a steady flow of foreign transactions take place online instead. The top 5 e-commerce spending categories are Gaming, Fashion, Home Decor, Health and Supplements and Electronics. Popular foreign e- commerce sites have experienced a boom in spending, with the top sites like Taobao seeing a 111% growth rate, with ASOS in second place with a 60% increase, Alibaba in third at 41%, and Aliexpress at 17%.

Caecilia Chu, Co-Founder and CEO of YouTrip, said: “What is equally important to us now is that we are here for our users and supporting them through times of uncertainty. We’ve most recently introduced a new COVID-19 refund policy to help them process any travel-related refunds back into their linked bank accounts, as our commitment towards putting users first remains steadfast.

YouTrip gives users access to competitive wholesale exchange rates where users can exchange over 150 foreign currencies in real-time, with no extra fees. These features mean users can pay in different currencies with a single card, simplifying the way they spend on global sites.

Although YouTrip is primarily a travel card, many users are using YouTrip’s prepaid Mastercard to make purchases within Singapore as well, primarily in the shopping, food and grocery categories. YouTrip saw an increase for local e-commerce sites EZbuy (65%), and Lazada (11%); food delivery from PizzaHut Delivery (49%), Domino’s Pizza (43%), Foodpanda (35%), McDonald’s (19%), and Deliveroo (13%). Online grocery companies have also seen strong growth as the demand for grocery deliveries spike during this period, NTUC online leads at 226%, PrimeNow (13%), EA Mart (8%).

Play At Home While You Stay At Home

Gaming was the category that showed the greatest growth among the categories. As consumers turn to games for entertainment, consoles like the Nintendo Switch has seen global supply shortages. YouTrip has seen the largest increase for purchases from Nintendo in foreign currency- since the AUD experienced a dip against SGD in mid-March. Nintendo purchases made via AUD increased 278%, with JPY at 76%, and purchases made in SGD at a 57% increase. PlayStation and Steam Games have also seen increases, at 60% and 50% respectively.

The implementation of remote work policies has resulted in users also craving more entertainment and communication. YouTrip saw an increase in transactions for entertainment subscription services with users preferring to go for Amazon Prime (26%), Netflix (14%), and Spotify (15%). The shift to telecommuting has also resulted in a huge increase in demand for paid video conferencing services such as Zoom (212%), and Skype (129%).

“YouTrip was created to help solve the cross border payment dilemma and during this period, we are dedicated to helping our users save on foreign currency transactions online, even if they aren’t physically travelling,” added Caecilia.

About YouTrip

YouTrip is a regional financial technology startup, dedicated to creating the best mobile financial services for travellers across Southeast Asia by simplifying overseas spending and creating a fuss-free travel experience. YouTrip first launched in Singapore in 2018 and subsequently in Thailand in 2019.

For more information, please visit you.co/sg

Photo – https://photos.prnasia.com/prnh/20200423/2784810-1?lang=0

PR Newswire

58.com Converted Profit Participation Right and Acquired Shares of Golden Pacer

Leave a comment

BEIJING, April 23, 2020 /PRNewswire/ — 58.com Inc. (NYSE: WUBA) (“58.com” or the “Company”), China’s largest online classifieds marketplace, today announced that it closed the transaction whereby it converted its profit participation right with respect to Golden Pacer into approximately 40.0% of the share capital of Golden Pacer. Golden Pacer is a leading financial technology platform in China, and the ultimate holding company of the financial services and other finance related business disposed by the Company in 2017. In September 2019, 58.com entered into definitive agreements to convert its profit participation right into equity stake of Golden Pacer and, in parallel, Golden Pacer entered into definitive agreements with Uxin Limited (“Uxin”), a leading national online used car dealer in China, pursuant to which Golden Pacer would acquire the loan facilitation related business from Uxin and Uxin would receive a certain number of shares of Golden Pacer as part of the consideration. Golden Pacer and Uxin now have entered into supplementary agreements to modify their transactions in light of the recent changes in the regulatory environment and the impact of COVID-19 outbreak and the two abovementioned transactions have been completed.

About 58.com Inc.

58.com Inc. (NYSE: WUBA) operates China’s largest online classifieds marketplace, as measured by monthly unique visitors on both its www.58.com website and mobile applications. The Company’s online marketplace enables local business users and consumer users to connect, share information and conduct business. 58.com’s broad, in-depth and high-quality local information, combined with its easy-to-use website and mobile applications, has made it a trusted marketplace for consumers. 58.com’s strong brand recognition, large and growing user base, merchant network and massive database of local information create a powerful network effect. For more information on 58.com, please visit http://www.58.com.

Safe Harbor Statements

This press release contains forward-looking statements made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. 58.com may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about 58.com’s beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the following: 58.com’s goals and strategies; its future business development, financial condition and results of operations; its ability to retain and grow its user base and network of local merchants for its online marketplace; the growth of, and trends in, the markets for its services in China; the outbreak of COVID-19 or other health epidemics in China or globally; the demand for and market acceptance of its brand and services; competition in its industry in China; its ability to maintain the network infrastructure necessary to operate its website and mobile applications; relevant government policies and regulations relating to the corporate structure, business and industry; and its ability to protect its users’ information and adequately address privacy concerns. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and 58.com does not undertake any obligation to update such information, except as required under applicable law.

For more information, please contact:

58.com Inc.

ir@58.com

Christensen

In China
Mr. Christian Arnell
Phone: +86-10-5900-1548
E-mail: carnell@christensenir.com

In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: lbergkamp@ChristensenIR.com

Cision View original content:http://www.prnewswire.com/news-releases/58com-converted-profit-participation-right-and-acquired-shares-of-golden-pacer-301045971.html

PR Newswire

Arcadier: Building free COVID-19 related marketplace to support community

Leave a comment

SINGAPORE, April 22, 2020 /PRNewswire/ — The COVID-19 pandemic has changed the way work and life happens. Today, nearly 3 billion people around the world are under some form of lockdown. Communities and community-based businesses have been hit especially hard by the Pandemic as face-to-face interactions have come to a standstill globally. Considering the pandemic’s impact, Arcadier, the world’s fastest-growing marketplace builder, is announcing an initiative to support the free creation of new marketplaces offering help or relief to those impacted by COVID-19.

Free COVID-19 related Arcadier Marketplace for your community
Free COVID-19 related Arcadier Marketplace for your community

Over the last few weeks, Arcadier has been receiving numerous requests from dedicated individuals and organisations intending to build marketplaces to aid their communities during this period of uncertainty. The free use of the Arcadier’s marketplace DIY SaaS solutions will be specifically offered to initiatives helping individuals or businesses affected by the Coronavirus crisis, especially if the intention of the marketplace is to assist in coordinating finite resources better and where profit making is not the principal objective.

Chief Operating Officer of Arcadier, Kenneth Low, said, “We recognize that the unprecedented global health crisis has made stemming the tide of infections while caring for the vulnerable a top priority, and we see the use of online marketplace technology as an efficient way to assist with the matching of societal resources to needs in every community. As such, we have decided to make our platform freely available to individuals or organizations with that vision to help their neighbourhoods or small local businesses tide through this period by supporting them with digitization.”

Arcadier provides ready marketplace solutions that suit different purposes, ranging from buying and selling items to scheduling and booking time-slots for rental or services. Consequently, participants can build community marketplaces to share medical or home supplies, offer volunteer services to support neighbours or even create an online marketplace for food takeaways from local restaurants affected by Coronavirus lockdown measures.

The sponsorship of a free marketplace for those affected by COVID-19 program is open to anyone around the world. However, to ensure that only genuine initiatives will benefit from this offer, Arcadier will review and approve every applicant seeking to participate in this free marketplace Covid-19 programme as well as monitoring their progress. This programme will run till 31 July 2020.

More information about how to build a free platform for those affected by Covid-19 and the eligibility criteria of the programme, please follow the link here. Arcadier looks forward to partnering with companies on coronavirus-fighting initiatives.

About Arcadier

https://www.arcadier.com

Arcadier is the world’s fastest-growing online marketplace builder and is the recognized global leader of multi-vendor eCommerce marketplace technology with users from more than 170 countries. Founded in 2013 in Singapore by senior PayPal executives, it has offices in 5 countries including Singapore (HQ), Australia, Philippines the United States and the United Kingdom. Arcadier enables Large Enterprises, SMBs, Governments and Start-Ups to build their own white-labelled marketplaces efficiently and cost-effectively. Arcadier’s platform supports various eCommerce models including B2B, B2C, P2P, Service & Rental across industry verticals such as retail, consumer goods, commodities, wholesale, manufacturing and services. Recently Arcadier launched its Arcadier Enterprise offering focused on enabling large corporations and multi-brand retailers to create complex marketplace experiences for their businesses.

Photo – https://photos.prnasia.com/prnh/20200420/2780917-1?lang=0