Singaporean e-commerce firm exited India after just six months of operating here. What happened?
In a rather surprising move, Singaporean e-commerce firm Shopee announced yesterday that it is exiting India. The company, owned by Singapore-headquartered and New York-listed consumer internet giant Sea Ltd, had only been operating here for about six months and was doing rather well. From Shopee’s statement, via TechCrunch :
In view of global market uncertainties, we have decided to close our early-stage Shopee India initiative. During this period of transition, we will focus on supporting our local seller and buyer communities and our local team to make the process as smooth as possible. We will continue to focus our efforts …
Harveen is a co-founder at The Morning Context, and leads our Internet coverage. She has previously worked as a media, consumer and tech reporter at The Ken and Mint. At The Morning Context, she writes on startups, venture capital, consumer and media businesses—from e-commerce to healthtech to streaming.
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