The review, posted by the Office of the United States Trade Representative (USTR), mentioned how these platforms, despite increased investment for IP protection in their platform, the platforms still see significant numbers of counterfeit goods in their respective platforms.
Indonesia-based e-commerce firm Bukalapak has revealed plans to phase out the sale of physical goods on its marketplace, redirecting its focus toward virtual products and digital services.
In a letter to the Indonesian Stock Exchange (IDX) reviewed by MARKETECH APAC, Bukalapak stated that they are not aware of any information regarding its acquisition plans by TEMU.
The new investment by Bukalapak is part of the company’s objective to shift its focus from competing head-to-head with other marketplaces, to building or acquiring niche marketplaces and accelerating their growth.
The collaboration between Bukalapak and Standard Chartered is strengthened by the strong commitments between said parties to a common vision to bridge the financial inclusion gap.
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