A Turbulent Time for E-Commerce Logistics

As price wars intensify and competitors like J&T Express alongside Shopee’s SPX tighten their grip, the struggle for survival in the third-party logistics (3PL) sector has become fierce. Ninja Van, once a prominent player, is feeling the heat.

A Shocking Departure from Vietnam

In a surprising move, Ninja Van has announced it will halt all express delivery services in Vietnam, impacting both B2B and B2C operations. This decision marks a significant retreat in one of Southeast Asia’s bustling e-commerce markets.

Cutting Costs Amidst Changing Fortunes

Earlier this year, the company took drastic measures by laying off 12% of its workforce in Singapore. This downsizing underscores the pressures Ninja Van faces in an increasingly competitive landscape.

Seeking a Lifeline

Desperate to stabilize its finances, Ninja Van is reportedly in discussions to secure $80 million in new funding. This round is being led by existing backers, B Capital and Monk’s Hill Ventures, but comes with a hefty price—halving the company’s valuation to around $1 billion.

What Lies Ahead?

With its future hanging in the balance and the e-commerce logistics scene becoming cutthroat, one must wonder: Is it time for Ninja Van to consider stepping back from the fray? Industry watchers will be closely monitoring how this unfolding saga impacts not only the company but the broader logistics market in Southeast Asia.