Shopee Malaysia hit US$1.8 billion GMV in first year

Shopee claims to have achieved a total of US$1.8 billion annualised gross merchandise value (GMV) since it was launched last year. The mobile marketplace firm which is available in Southeast Asia and Taiwan - added that its business showed a 43% month-on-month growth over the past one year with 25 million downloads and over 65 million listings across seven markets.

Chris Feng, chief executive officer of Shopee said for 2017, it expects to maintain a strong double-digit growth as the earlier year, adding "We will also continue to focus our efforts on optimising the product, improving the end-to-end user experience and in empowering entrepreneurs to expand and grow their online businesses.”

The company revealed that 70% of its users are more likely to purchase on mobile than on PC as the latter is used mostly for browsing and price comparison.

In conjunction with its first year anniversary, Shopee will be giving out some deep discounts to its users in December, as well as chances to win prizes worth up to RM50,000 in flights, hotel stays, mobile phones and cash vouchers. It will also be organising a bazaar involving more than 30 Shopee sellers from various categories in Kuala Lumpur.

The company also said it has partnered up with Facebook for a special edition of Shopee University to be held on 10 of December. Attending merchants would be able to learn first hand from Facebook representatives on how to leverage Facebook tools to further increase orders and their store performance.

Facebook will also share full spectrum of insights, case studies, and insider tips that will help merchants grow their business exponentially. The workshop is now available for sign-up through Shopee mobile app.