Ooredoo and Rocket Internet form Asia e-commerce JV
Asia Internet Holding will develop online businesses in 15 Asian countries
Ooredoo and internet incubator Rocket Internet have formed a joint venture to launch e-commerce services in Asian markets.
The two companies will be equal partners in Asia Internet Holding, which will look to develop online businesses and digital serivces in 15 countries in Asia.
The partnership is intended to capitalize on increasing internet penetration and growing disposable income in markets in the region, which is creating a growth in e-commerce. With limited fixed line internet service and high levels of mobile penetration, the focus will be on mobile commerce channels and services.
Dr Nasser Marafih, Ooredoo Group CEO, said: "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 eCommerce services will further support our ambition of enriching people's lives. We are pleased to have entered into a partnership with Rocket and look forward to harnessing their knowledge and experience gained elsewhere into making our joint venture an eCommerce market leader across Asia."
Asia Internet Holding will cover 15 markets in Asia including Pakistan, Myanmar, Thailand, Malaysia, Singapore, Indonesia, Vietnam, the Philippines and Australia, with ventures ranging from online retail and marketplaces to payment services.
Oliver Samwer, co-founder of Rocket Internet, commented: "We look forward to working with a partner as innovative and customer-centric as Ooredoo in Asia. Our partnership will accelerate the development of Asia Internet Holding in the region and help our businesses succeed. We feel that by bringing ecommerce models that have worked well elsewhere in the World to Asia, and that by partnering with an operator like Ooredoo, we can jointly bring better services to customers."