Sendo is one of the earliest e-commerce companies in Vietnam. It was founded by FPT in 2012 and its website mainly sells fashion and cosmetics products.
More than two-thirds of Sendo's consumers are outside Ho Chi Minh City and Hanoi. Sendo has been growing its business by entering remote areas and has gradually become the second largest e-commerce platform in Vietnam after Lazada, with a valuation of over US$1 billion.
Sendo is the e-commerce division of FPT, one of the largest telecommunications companies in Vietnam with many products and services such as retail, software outsourcing, and internet service provider. FPT also owns VnExpress.net, the largest online news website.
Sendo's financing history:
-In 2014, Sendo acquired VNG's e-commerce platform 123mua.vn. Sendo has been growing its business by entering remote areas.
-In August 2018, Sendo announced that it had received US$51 million in Series B financing. Vietnam, with a population of 93.7 million, has 35 million domestic digital consumers. This round of financing will help Sendo enter the next more mature stage and continue to promote the accelerated development of Vietnam's e-commerce market.
-In 2018, Sendo received US$61 million in Series C funding from SoftBank Ventures Asia, Digital Garage, and Daiwa PI Partners.
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