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Delivery Hero’s Valuation Surpasses $5Bln Following Successful IPO

Delivery Hero’s valuation topped $5 billion after the food delivery firm went public in a listing on the Frankfurt stock exchange

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Delivery Hero’s valuation topped $5 billion after the food delivery firm went public in a listing on the Frankfurt stock exchange.

Delivery Hero earned around €465 million ($530 million) from the IPO, which it plans to use to repay loans and invest in growth. That’s in contrast to US food delivery outfit Blue Apron, which endured a rocky start to life on the NSYE less than 24 hours earlier.

Despite a successful public debut, Delivery Hero is not profitable.

Today’s IPO is a major boon for Rocket Internet, which owns a 35 percent stake in Delivery Hero thanks to the FoodPanda deal. (Investment firm Naspers is another large owner with a 10 percent stake courtesy of a pre-IPO investment.)

Read the rest of the story here.

Recommended Reading: The retail apocalypse might just mean the reinvention of the shopping experience

While the giants are falling, smaller players are figuring out how to reinvent the store experience for the 21st century, focusing on authenticity and community while, in many ways, thinking about sales second.

“I’m not seeing the retail apocalypse in the world of creative, small entrepreneurs,” says Sarah Filley, a co-founder of Popuphood, a residency program for retail helping small businesses in the Bay Area. “There’s such an incredible spirit here. People are looking at suburban malls and calling it the end of an era. If you look at the startup scene…

Original content by ecommerceIQ

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China

RCEP and China: Reimagining the future of trade in Asia

The Regional Comprehensive Economic Partnership (RCEP) could eventually usher in an era of much deeper regional integration: for corporates doing business in the region, their future success may well hinge on how adeptly they manage to navigate the evolution of Asia’s trade landscape under the RCEP.

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Last month, 15 countries in the Asia-Pacific region – including the 10 member states of the Association of Southeast Asian Nations (ASEAN) as well as China, Australia, Japan, New Zealand, and South Korea – signed the landmark Regional Comprehensive Economic Partnership (RCEP) on the final day of the 37th ASEAN Summit.

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Thailand ready to ink big Chinese-backed trade deal

The RCEP will cover all 10 Asean member states plus five partners: China, Australia, Japan, New Zealand, and South Korea and will take effect from the middle of 2021 if at least six Asean members and three partners agree to its terms.

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Thailand is set to sign the world’s biggest free trade agreement with Japan, China, South Korea and 12 other Asia-Pacific countries at the 37th Asean Summit this week.

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Great Wall Motor (China) takes over GM factory in Thailand

The Thai production hub will become operational in the first quarter of 2021 with automobile production capacity of 80,000 units per annum.

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Chinese carmaker Great Wall Motor (GWM) hosted a ceremony on November 2nd to celebrate the latest milestone in taking full ownership of Rayong Manufacturing Facility in Thailand.

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