What is Sendo? Sendo Review

Sendo is one of the earliest e-commerce companies in Vietnam. It was founded by FPT in 2012 and mainly sells fashion and cosmetics products.

About Sendo

More than two-thirds of Sendo's consumers are outside Ho Chi Minh City and Hanoi. Sendo has been growing its business by entering remote areas and has gradually become the second largest e-commerce platform in Vietnam after Lazada, with a valuation of over US$1 billion.

Sendo is the e-commerce division of FPT, one of the largest telecommunications companies in Vietnam with many products and services such as retail, software outsourcing, and internet service providers. FPT also owns the largest online news site, VnExpress.net.

Development Status

1. In addition to focusing on Hanoi and Ho Chi Minh City, Sendo focuses on untapped secondary cities with 70 million Vietnamese people. Currently, Sendo has attracted more than 500,000 sellers, with approximately 17 million SKUs listed on its platform and more than 12 million customers.

2. Sendo is also the first market in Vietnam to obtain an e-wallet license. According to the company, its payment service called Senpay currently ranks third in the country in terms of transaction value. Sendo hopes to further expand its core e-commerce business in a rapid and sustainable manner, which will lay a solid foundation for its future monetization strategy.

3. The e-commerce report released in the third quarter of 2019 showed that Sendo surpassed its local competitor Tiki to become the second most downloaded application and the second most visited e-commerce website in Vietnam, while Shopee maintained its leading position. However, Tiki said that its network and application traffic in the third quarter increased more than twice year-on-year.

Financing

-In 2014, Sendo acquired VNG's e-commerce platform 123mua.vn. Sendo has been growing its business by entering remote areas.

-In August 2018, Sendo announced that it had received US$51 million in Series B financing. Vietnam, with a population of 93.7 million, has 35 million domestic digital consumers. This round of financing will help Sendo enter the next more mature stage and continue to promote the accelerated development of Vietnam's e-commerce market.

-In 2019, Sendo received US$61 million in Series C funding from SoftBank Ventures Asia, Digital Garage, and Daiwa PI Partners.

Development History

- In September 2012, Sendo launched a project that was originally an e-commerce project developed by FPT Online Services Joint Stock Company (FPT Online).

- On May 13, 2014, Sendo Technologies AG was established as a subsidiary of FPT Corporation, the management division of Sendo applications.