Tiki

After Indonesia, Vietnam is the second-largest eCommerce market in Southeast Asia (to be fair, there is stiff competition for the second place). eCommerce is on the verge of massive expansion: in the next 5-7 years, the market is predicted to triple in size.

While multinational giants Shopee and Lazada are the market leaders, local competitors are catching up. Tiki is one of the runners-up.

Tiki's beginnings are eerily similar to those of the global behemoth Amazon. In the same way, the Vietnamese platform started off as a simple online bookshop, with the name "Tiki" being an abbreviation for "search and save" in Vietnamese.

It grew to its current multi-product marketplace after early success. These days, Tiki is recognized for wooing a younger crowd. Alibaba previously became Tiki's largest stakeholder after making a significant investment, demonstrating Alibaba's great interest in Southeast Asian eCommerce.

Tiki was able to secure over $200 million in funding by the end of 2021, allowing it to expand its eCommerce operation and diversify into new markets. In a few years, Tiki expects a 40-50 percent increase in income.

Founded: 2010
Headquarters: Ho Chi Minh City, Vietnam

Average monthly visits: 18M

Website: www.tiki.vn