TIẾNG VIỆT Tiki’s 2019 after-tax loss widens to $75.3mln from $32.3mln a year earlier
Tiki’s 2019 after-tax loss widens to $75.3mln from $32.3mln a year earlier
The online retail platform participated in the race against Lazada, Shopee, Sendo for a larger market share in Vietnam by "burning money" for massive promotion programs.
In 2018, after receiving investment from VNG and JD.com, TiKi’s loss increased by almost 3 folds to over VND750 billion ($32 million).
In 2016 and 2017, Tiki reported a loss of VND179 billion ($7.6 million) and VND282 billion ($12 million) respectively.
Between 2016 and 2019, Tiki reported accumulated losses of $127 million and VNG Corporation invested about $21 million into the company. Now the tech firm holds 24% share at Tiki.
Tiki's loss is approaching its two competitors Lazada and Shopee which reported VND1,773 billion ($75.6 million) and VND1,901 billion ($81 million) losses in 2018.
