E-commerce

During the pandemic, the startup has seen multi-fold growth.

The firm just received USD 20 million investment in a Series A+ round led by Source Code Capital.

This move allows smaller companies and livestreamers to capitalize on the rapidly growing livestreaming e-commerce sector in China.

The move is Meituan’s second foray into China’s RMB 5 trillion (USD 733 billion) fresh food retailing industry.

The food service market in Thailand is worth over USD 7.7 billion in annual purchases across more than 200,000 restaurants, according to Freshket.

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.