Malaysia's e-commerce startup iPrice Group lays off 20% of staff

Company claims to become 'hyperfocused on core product'

20220609 iPrice group

Over the years, iPrice expanded the business from its website to offer a full-suite, white-label marketplace solution for super-apps, including pay-later services. (Photo courtesy of iPrice Group)

QUYNH NGUYEN, DealStreetAsia

HANOI -- iPrice Group, a Southeast Asian e-commerce aggregator platform, announced Wednesday that it has laid off 20% of its staff as part of an effort to focus on its core mission "to help people save money" shopping online.

The move comes three months after the company announced a $5 million investment from trading company Itochu and telecom company KDDI, both of Japan, in March.

Sponsored Content

About Sponsored ContentThis content was commissioned by Nikkei's Global Business Bureau.