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Ninja Van

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Ninja Van
Company typePrivate
IndustryCourier
Founded2014
Founder
  • Lai Chang Wen
  • Shaun Chong
  • Boxian Tan
Headquarters
Singapore
Area served
Key people
Lai Chang Wen (CEO)
Websiteninjavan.co

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

[edit]

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.

In September 2024 it was reported in the Straits Times of Singapore that it was suspending operations in Vietnam due to unpaid salaries. [11]

Funding

[edit]

In March 2015, Ninja Van announced a US$2.5 million Series A funding round. The investment was led by Monk's Hill Ventures.[12][13] In April 2016, Ninja Van announced a US$30 million Series B round.[14]

In January 2018, Ninja Van raised at last US$87 million in its Series C funding.[15] International parcel delivery firm DPDgroup acquired a minority stake in Ninja Van during its Series C funding.[16]

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.[2][17][18][19]

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.[20][21] In March 2023, Lai announced that it is holding off on IPO plans until profitability improves.[22] [23]

References

[edit]
  1. ^ Gilchrist, Karen. "How 3 friends turned failure into a multimillion-dollar business". CNBC. Retrieved 30 July 2022.
  2. ^ a b "Singapore-based logistics firm Ninja Van raises $279 million". Reuters. 5 May 2020. Archived from the original on 2 June 2021. Retrieved 2 June 2021.
  3. ^ "Rewriting how logistics is done". TODAY Online. Archived from the original on 2 June 2021. Retrieved 2 June 2021.
  4. ^ Pearl Li, Stephanie (18 November 2020). "Southeast Asia's e-commerce boom fuels the logistics demand: Q&A with Ninja Van CEO and COO". KrASIA. Archived from the original on 3 June 2021. Retrieved 2 June 2021.
  5. ^ Ambler, Pamela. "Keeping Up With E-commerce: Last Mile Delivery Service Deploys 'Ninjas' In Online Shopping Boom". Forbes. Archived from the original on 2 June 2021. Retrieved 2 June 2021.
  6. ^ Lai, Leila (11 February 2021). "Ninja Van: E-commerce surge was both a boon and challenge". The Business Times. Archived from the original on 2 June 2021. Retrieved 2 June 2021.
  7. ^ Adilla, Farah (16 May 2021). "Ninja Van sees shipment volume grows two fold since pandemic | New Straits Times". NST Online. Archived from the original on 2 June 2021. Retrieved 2 June 2021.
  8. ^ "Delivery group that serves south-east Asia's remote villages weighs IPO". Financial Times. Archived from the original on 25 July 2021. Retrieved 26 July 2021.
  9. ^ "Ninja Van aiming for US IPO next year, valuation crossed US$1 bil". The Edge Singapore. 25 July 2021. Archived from the original on 26 July 2021. Retrieved 26 July 2021.
  10. ^ Pillai, Sharanya (26 July 2021). "Ninja Van 'a year away' from IPO: CEO". The Business Times. Archived from the original on 1 August 2021. Retrieved 6 August 2021.
  11. ^ Correspondent, Sharon SalimBusiness (19 September 2024). "Ninja Van suspends operations at Vietnam subsidiary as it works to resolve delayed salary payments". The Straits Times. ISSN 0585-3923. Retrieved 20 September 2024. {{cite news}}: |last= has generic name (help)
  12. ^ Tay, Daniel (2 March 2015). "Singapore's Ninja Logistics snags $2.5M to expedite Southeast Asia's ecommerce deliveries". Tech in Asia. Archived from the original on 2 June 2021. Retrieved 2 June 2021.
  13. ^ Louisse, Donna. "Ninja Van raises US$2.5M in Series A, led by Monk's Hill Ventures". e27. Archived from the original on 2 June 2021. Retrieved 2 June 2021.
  14. ^ Russell, Jon (19 April 2016). "Ninja Van raises $30M to build a regional logistics network in Southeast Asia". TechCrunch. Archived from the original on 26 July 2021. Retrieved 2 June 2021.
  15. ^ Terence, Lee (23 January 2018). "Singapore logistics firm Ninja Van raises over $87m in record-breaking funding". Tech in Asia. Archived from the original on 6 February 2021. Retrieved 2 June 2021.
  16. ^ "GeoPost/DPDgroup takes minority stake in Ninja Van". Post & Parcel. 23 January 2018. Archived from the original on 26 July 2021. Retrieved 2 June 2021.
  17. ^ Furtado, Collin (25 May 2021). "Ninja Van sees 3x rise in revenue in FYE 2019, but a tough fight lies ahead". Tech in Asia. Archived from the original on 2 June 2021. Retrieved 2 June 2021.
  18. ^ fee, Collin (3 December 2022). "Ninja Van Complaints Malaysia". Ninja Van Tracking.
  19. ^ Lee, Yoolim (5 May 2020). "Ninja Van's Big-Ticket Funding Signals Startup Deal Resilience". Bloomberg. Archived from the original on 29 November 2020. Retrieved 2 June 2021.
  20. ^ Baigorri, Manuel (26 September 2021). "Alibaba Nearing Investment in Singapore Unicorn Ninja Van". Bloomberg. Retrieved 26 September 2021.
  21. ^ "Ninja Van raises $578 mln in funding round, adds Alibaba as investor". Reuters. 26 September 2021. Retrieved 26 September 2021.
  22. ^ Poh, Olivia. "Ninja Van Holding Off on IPO Plans Until Profitability Improves".
  23. ^ https://www.straitstimes.com/business/ninja-van-downsizes-tech-team-in-s-pore-and-the-region-workers-laid-off
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