Ninja Van Explained

Ninja Van
Type:Private
Industry:Courier
Founded:2014
Hq Location Country:Singapore
Key People:Lai Chang Wen (CEO)

Ninja Van is a Singaporean logistics company. Founded in 2014, the company engages in last mile logistics and package delivery. Ninja Van has sorting warehouses across Southeast Asia, in Singapore, Myanmar, Malaysia, Philippines, Indonesia, Thailand and Vietnam.[1] It works with e-commerce firms including Alibaba Group's Lazada, GoTo's Tokopedia for Indonesia, and Sea Group's Shopee.[2] It uses vehicle routing problem algorithms to improve delivery routes.[3]

History

Ninja Van was founded in 2014 by Singaporeans Lai Chang Wen, Shaun Chong, and Boxian Tan. The firm runs on a hub-and-spoke model, compared to other companies like GOGOX and Lalamove that use a point-to-point model.[4]

In 2019, it delivered an average of one million parcels a day around the ASEAN region.[5]

During the COVID-19 pandemic in Singapore in 2020, Ninja Van saw a three-fold increase in parcel volume in Singapore.[6] In Malaysia, it saw a two-fold increase in shipment volume growth, driven by the growth in social-commerce transactions.[7]

In July 2021, it was reported that Ninja Van was considering an initial public offering in 2022.[8] [9] [10]

In July 2024, they announced a second round of layoffs coming after the first round of layoffs in May 2024

Funding

In March 2015, Ninja Van announced a US$2.5 million Series A funding round. The investment was led by Monk's Hill Ventures.[11] [12] In April 2016, Ninja Van announced a US$30 million Series B round.[13]

In January 2018, Ninja Van raised at last US$87 million in its Series C funding.[14] International parcel delivery firm DPDgroup acquired a minority stake in Ninja Van during its Series C funding.[15]

Ninja Van raised US$279 million in its Series D funding round in May 2020 which included backers like France's GeoPost SA and Grab.[16] [17] [18]

In September 2021, Ninja Van announced that it has raised US$578 million in its Series E funding round, led by Alibaba Group, DPDgroup, and B Capital Group.[19] [20] On March 2023, Lai announced that it is holding off on IPO plans until profitability improves.[21] [22]

Notes and References

  1. Web site: Gilchrist . Karen . How 3 friends turned failure into a multimillion-dollar business . 30 July 2022 . CNBC . en.
  2. News: 5 May 2020. Singapore-based logistics firm Ninja Van raises $279 million. en. Reuters. 2 June 2021. 2 June 2021. https://web.archive.org/web/20210602215522/https://www.reuters.com/article/us-ninjavan-funding-idUSKBN22H06B. live.
  3. Web site: Rewriting how logistics is done . live . https://web.archive.org/web/20210602215218/https://www.todayonline.com/singapore/rewriting-how-logistics-done . 2 June 2021 . 2 June 2021 . TODAY Online.
  4. Web site: Pearl Li . Stephanie . 18 November 2020 . Southeast Asia's e-commerce boom fuels the logistics demand: Q&A with Ninja Van CEO and COO . live . https://web.archive.org/web/20210603024908/https://kr-asia.com/southeast-asias-e-commerce-boom-fuels-the-surging-logistics-demand-qa-with-ninja-van-ceo-and-coo . 3 June 2021 . 2 June 2021 . KrASIA . en.
  5. Web site: Ambler. Pamela. Keeping Up With E-commerce: Last Mile Delivery Service Deploys 'Ninjas' In Online Shopping Boom. 2 June 2021. Forbes. en. 2 June 2021. https://web.archive.org/web/20210602214033/https://www.forbes.com/sites/pamelaambler/2019/11/10/last-mile-delivery-service-deploys-ninjas-in-online-shopping-boom/. live.
  6. Web site: Lai . Leila . 11 February 2021 . Ninja Van: E-commerce surge was both a boon and challenge . live . https://web.archive.org/web/20210602215804/https://www.businesstimes.com.sg/sme/ninja-van-e-commerce-surge-was-both-a-boon-and-challenge . 2 June 2021 . 2 June 2021 . The Business Times.
  7. Web site: Adilla. Farah. 16 May 2021. Ninja Van sees shipment volume grows two fold since pandemic New Straits Times. 2 June 2021. NST Online. en. 2 June 2021. https://web.archive.org/web/20210602220149/https://www.nst.com.my/business/2021/05/690547/ninja-van%C2%A0sees%C2%A0shipment-volume-grows%C2%A0two-fold-%C2%A0pandemic. live.
  8. Web site: Delivery group that serves south-east Asia's remote villages weighs IPO . subscription . live . https://web.archive.org/web/20210725050906/https://www.ft.com/content/0370ed26-4427-428d-bf1c-ece33c59630f . 25 July 2021 . 26 July 2021 . Financial Times.
  9. Web site: 25 July 2021. Ninja Van aiming for US IPO next year, valuation crossed US$1 bil. live. The Edge Singapore. 26 July 2021. 26 July 2021. https://web.archive.org/web/20210726034358/https://www.theedgesingapore.com/news/ipo/ninja-van-aiming-us-ipo-next-year-valuation-crossed-us1-bil.
  10. Web site: Pillai . Sharanya . 26 July 2021 . Ninja Van 'a year away' from IPO: CEO . live . https://web.archive.org/web/20210801151929/https://www.businesstimes.com.sg/garage/ninja-van-a-year-away-from-ipo-ceo . 1 August 2021 . 6 August 2021 . The Business Times.
  11. Web site: Tay . Daniel . 2 March 2015 . Singapore's Ninja Logistics snags $2.5M to expedite Southeast Asia's ecommerce deliveries . live . https://web.archive.org/web/20210602214142/https://www.techinasia.com/ninja-logistics-snags-25m-teleport-logistics-flash . 2 June 2021 . 2 June 2021 . Tech in Asia . en-US.
  12. Web site: Louisse. Donna. Ninja Van raises US$2.5M in Series A, led by Monk's Hill Ventures. 2 June 2021. e27. en. 2 June 2021. https://web.archive.org/web/20210602215516/https://e27.co/ninja-van-raises-us2-5m-series-led-monks-hill-ventures-20150302/. live.
  13. Web site: Russell . Jon . 19 April 2016 . Ninja Van raises $30M to build a regional logistics network in Southeast Asia . live . https://web.archive.org/web/20210726034353/https://techcrunch.com/2016/04/19/ninja-van-raises-30m-to-build-a-regional-logistics-network-in-southeast-asia/ . 26 July 2021 . 2 June 2021 . TechCrunch . en-US.
  14. Web site: Terence . Lee . 23 January 2018 . Singapore logistics firm Ninja Van raises over $87m in record-breaking funding . live . https://web.archive.org/web/20210206214328/https://www.techinasia.com/singapore-logistics-firm-ninja-van-concludes-series-funding . 6 February 2021 . 2 June 2021 . Tech in Asia . en-US.
  15. Web site: 23 January 2018. GeoPost/DPDgroup takes minority stake in Ninja Van. live. 2 June 2021. Post & Parcel. en-US. 26 July 2021. https://web.archive.org/web/20210726034402/https://postandparcel.info/93046/news/e-commerce/geopost-dpdgroup-takes-minority-stake-ninja-van/.
  16. Web site: Furtado . Collin . 25 May 2021 . Ninja Van sees 3x rise in revenue in FYE 2019, but a tough fight lies ahead . live . https://web.archive.org/web/20210602220317/https://www.techinasia.com/ninja-van-sees-3x-rise-revenue-fye-2019-tough-fight-lies . 2 June 2021 . 2 June 2021 . Tech in Asia . en-US.
  17. Web site: fee . Collin . 3 December 2022 . Ninja Van Complaints Malaysia . Ninja Van Tracking . en-US.
  18. Web site: Lee . Yoolim . 5 May 2020 . Ninja Van's Big-Ticket Funding Signals Startup Deal Resilience . subscription . live . https://web.archive.org/web/20201129031812/https://www.bloomberg.com/news/articles/2020-05-05/singapore-s-ninja-van-raises-279-million-after-e-commerce-surge . 29 November 2020 . 2 June 2021 . Bloomberg.
  19. News: Baigorri . Manuel . 26 September 2021 . Alibaba Nearing Investment in Singapore Unicorn Ninja Van . en . Bloomberg . 26 September 2021.
  20. News: 26 September 2021 . Ninja Van raises $578 mln in funding round, adds Alibaba as investor . en . Reuters . 26 September 2021.
  21. News: Poh . Olivia . Ninja Van Holding Off on IPO Plans Until Profitability Improves .
  22. https://www.straitstimes.com/business/ninja-van-downsizes-tech-team-in-s-pore-and-the-region-workers-laid-off

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