Tiki will open a logistics company that could serve as an in-house provider of essential services for its e-commerce operations, appreciating its standing in the merger negotiations that it is rumoured to be having with Sendo.
|Tiki will stop the on-demand fulfillment model |
Tiki recently announced to stop its on-demand fulfilment model (vendors taking goods to the storehouse) to shift to a new form where Tiki takes goods from vendors without intermediaries and delivers goods through a subsidiary specialised in delivery.
According to Nguyen Viet Hung, a key opinion leader in local technology startups, this will add more value to Tiki and make it a more valuable prospect for the merger with Sendo, or even the initial public offering (IPO) planned for the near future.
“Halting the old delivery model will help Tiki optimise its revenue and improve the shopping experience for customers,” said Hung.
Last week, DealStreetAsia has reported that the two largest local e-commerce platforms have held exploratory talks to merge. The two sides have yet to comment on the information. However, once negotiations are taking place, the relevant parties rarely issue comments, even to disclaim leaks.
A VIR source revealed that discussions about the merger had been taking place since August, and only leaders of each board knew of the details. As a result, even shareholders were taken by surprise by the news.