Ooredoo plans APAC e-commerce incubator

Dylan Bushell-Embling
24 Apr 2014
00:00
News
Daily News

Myanmar mobile licensee Ooredoo has formed a e-commerce business incubator joint venture that will cover 15 APAC markets.

The Qatar-based operator has teamed up with internet incubator Rocket Internet to take equal stakes in the joint venture Asia Internet Holding.

The JV will cover markets including Myanmar, Pakistan, Thailand, Malaysia, Singapore, Indonesia, Vietnam, the Philippines and Australia.

Investments will be based on five main business models - e-commerce, marketplaces, classifieds, lead generation and payments.

Ooredoo group CEO Dr Nasser Marafih said the JV is part of the company's strategy to invest in new growth businesses and develop new revenue streams

“A fundamental shift is happening across our markets, as more people buy goods and services online through their mobile phones. This is even more evident in our Asian footprint. We believe that offering e-commerce services will further support our ambition of enriching people’s lives,” he said.

Subject to approvals, the joint venture investment is expected to be completed in the current quarter.

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