Theyre targeting a region with 620 million consumers on the cusp of an online shopping boom. That promise has drawn myriad competitors: Tokopedia , Orami, backed by Facebook Inc. co-founder Eduardo Saverin, and Carousell, to name a few. Alibaba Group Holding Ltd. is moving into the region through just- acquired Lazada Group SA. One thing in Garenas favor — few offer the shopping-payments-entertainment composite thats served Alibaba and Tencent well. Since Shopee debuted in seven languages in June 2015, its become the regions fastest-growing mobile marketplace, according to Nash. interview body languageModeled on Alibabas Taobao, its annual gross merchandise volume, the total of all e-commerce transactions, reached about $1.13 billion based on a July run rate. The company has raised more than $500 million, most recently a $170 million series D in March.
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