Webuy Acquires Chilibeli to Expand Indonesian Market

By Editorial Team 18/03/2022
e-commerce
Summary

Webuy, a Singapore-based social e-commerce firm, has officially acquired Chilibeli for an undisclosed price. Quoting DealStreetAsia, Webuy CEO Vincent Xue believed that the acquisition was in the right momentum and aligned with Webuy's Indonesian market expansion. The acquisition covers all of Chilibeli's assets, including brands, databases, software, agents, and customers. After the acquisition, the Chilibeli brand will reportedly be changed into Webuy Indonesia.

Chilibeli was founded by Alex Feng, Damon Yue, and Matt Li in 2019. It raised US$10 million in a Series A funding round in March 2020, supported by Lightspeed Ventures, Golden Gate Ventures, Sequoia Surge, Kinesys Group, and Alto Partners.

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