Intel invests in Singapore startup
Intel Capital, the global venture capital arm of chip maker Intel Corporation, has said it will invest in Singapore-based online retailer Reebonz.com seeking to scale up and extend its businesses in Asia.
The deal is part of a package of a $17 million venture capital investment into Reeboonz and two Indian e-commerce firms, Bright Lifecare and Snapdeal. Intel did not disclose how much each of the companies will receive.
Reebonz.com, one of the largest private sales e-commerce groups in Asia, sells luxury goods to customers across Southeast Asia, North Asia and Australia. Intel Capital first invested in the company in 2012. Following the investment, Reebonz.com launched Reebonz Vintage, a marketplace for pre-owned luxury goods, and Kwerkee.com, which sources and sells products from designers across the world. The company employs more than 250 people in ten countries
Growth in Asia’s middle-class, overall expansion of its economy and ever improving internet connectivity in the region has given rise to a considerable online retail market opportunity for these firms, Intel said in a statement giving reasons for the investment.
Intel Capital, the global venture capital arm of chip maker Intel Corporation, has said it will invest in Singapore-based online retailer Reebonz.com seeking to scale up and extend its businesses in Asia. The deal is part of a package of a $17 million venture capital investment into Reeboonz and two Indian e-commerce firms, Bright Lifecare and Snapdeal. Intel did not disclose how much each of the companies will receive. Reebonz.com, one of the largest private sales e-commerce groups in Asia, sells luxury goods to customers across Southeast Asia, North Asia and Australia. Intel Capital first invested in the company in...
Intel Capital, the global venture capital arm of chip maker Intel Corporation, has said it will invest in Singapore-based online retailer Reebonz.com seeking to scale up and extend its businesses in Asia.
The deal is part of a package of a $17 million venture capital investment into Reeboonz and two Indian e-commerce firms, Bright Lifecare and Snapdeal. Intel did not disclose how much each of the companies will receive.
Reebonz.com, one of the largest private sales e-commerce groups in Asia, sells luxury goods to customers across Southeast Asia, North Asia and Australia. Intel Capital first invested in the company in 2012. Following the investment, Reebonz.com launched Reebonz Vintage, a marketplace for pre-owned luxury goods, and Kwerkee.com, which sources and sells products from designers across the world. The company employs more than 250 people in ten countries
Growth in Asia’s middle-class, overall expansion of its economy and ever improving internet connectivity in the region has given rise to a considerable online retail market opportunity for these firms, Intel said in a statement giving reasons for the investment.
