JAKARTA, May 4 (Bloomberg): SCI Ecommerce, the online shopping provider backed by two of Alibaba’s earliest employees, has raised more than S$50 million ($38 million) to expand in Sout-East Asia ahead of a potential Nasdaq listing.
Asia Partners led the new funding round. The startup is planning to pursue a primary listing in New York as early as the end of this year with a target market valuation of $1 billion, Chief Executive Officer Joseph Liu said in an interview over Zoom. The company, which last year obtained in-principle approval to list in Singapore, will consider a potential secondary listing in city’s stock exchange, he added.
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