Alibaba Veteran Secures 4M Amid Southeast Asia Ecommerce Boom
HomingDay, a standalone website founded by a former Alibaba executive, secured $4 million in funding, targeting the mid-to-high-end market in Southeast Asia. Giants like ByteDance and Alibaba are also increasing their investment in Southeast Asian e-commerce. However, the market's small size and low profits remain challenges. Despite these difficulties, these companies are optimistic about Southeast Asia's growth potential and are actively vying for market share. The region's burgeoning digital economy and increasing internet penetration make it an attractive target for expansion.
