Online marketplace 11street is set to spin out a Malaysia-focused website with a $10m investment.
South Korea-based online marketplace 11street is set to invest $10m in a Malaysia-based spin-off of its website, Tech in Asia reported today.
11street will spin out the site in April this year, and hopes to increase its market share in Malaysia with the move. The company, which is already active in Indonesia and Turkey, currently has 22 million sellers and 40 million customers globally, and hosts transactions worth a combined $6bn a year.
Malaysia already has a substantial collection of…
