Ecosystem Roundup: TikTok Shop is now a key e-commerce player in SEA | Lhoopa raises US$80M | Goldman Sachs targets US$2B PE fund for Asia

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Ecosystem Roundup: TikTok Shop is now a key e-commerce player in SEA | Lhoopa raises US$80M | Goldman Sachs targets US$2B PE fund for Asia - e27

Quick Summary:

Dear reader, In a striking development, TikTok Shop has surged past Tokopedia to become Southeast Asia’s second-largest e-commerce platform in 2023, as reported by Momentum Works.

Shopee continues to lead with a formidable GMV of US$55.1 billion, capturing a 48% market share.

TikTok Shop’s annual GMV skyrocketed to US$16.