Ascend Group
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| Type of business | Private |
|---|---|
| Headquarters | Bangkok |
| Area served | Southeast Asia |
| Key people | Punnamas Vichitkulwongsa (CEO) Monsinee Nakapanant (COO) Chaiwat Ratanaprateepporn (CTO) Teerawat Tilokskulchai (CSO) Dean Krstevski (COO, E-commerce) Seubsakol Sakolsatayadorn (General Manager, Ascend Commerce) |
| Industry | Internet |
| Services | E-commerce, E-payment, Fulfillment and Logistics, Data Center and Cloud Services, Digital Marketing, Venture Capital |
| Parent | C.P. Group |
| Website | Ascend Group |
Ascend Group is a privately owned e-commerce company headquartered in Bangkok, Thailand as a spin-off of True Corporation. It marked its $150-million expansion by launching their affiliates in the Philippines and Indonesia, Vietnam, and also hard to reach economies like Myanmar and Cambodia.
Launched in 2014, Ascend Group consolidates True Corporation's previous e-commerce and service ventures, in order to facilitate seamless inter-unit service. Ventures are classified under major subsidiaries: Ascend Commerce, Ascend Money and Ascend Capital, along with smaller independent ventures like TrueIDC and Egg Digital..
Launched in Thailand as a flagship business to consumer e-commerce platform, iTrueMart serviced an average of 14,000 orders per day in the fourth quarter of 2015. This put it a close second to Lazada Thailand in revenue and competed first for fulfillment options. Along with TrueMoney and another e-commerce platform WeLoveShopping, iTrueMart tapped Amazon Web Service (AWS) for easier online payment and logistics options. iTrueMart expanded to the Philippines last November 15, 2015 as its first satellite office, initially serving the Metro Manila and Luzon sector. Services were launched to the island groups of Visayas and Mindanao on April 26, 2016. iTrueMart is ongoing a rebrand as WeMall to also cater to marketplace sellers. iTrueMart PH ceased trading in September 2016 and has since closed the business in the Philippines.
Founded in October 2015, Aden has served more than 3 million customers in Thailand. Aden is backed by a large IT infrastructure, providing warehousing and inventory management. It manages warehouse facilities in Thailand, with high-value and air-conditioned storage with access control, and standard racking and shelving storage. The existing portfolio includes 10 logistics partners for marketplace operators, online retailers, and social media sellers.
Established as the consumer to consumer platform to cater to resellers and small merchants, WeLoveShopping houses more than 320,000 stores in Thailand. It began as the flagship e-commerce platform of Ascend Group. Since 2015, it now boasts a staggering 300,000 site visitors every day and marks its market dominance as the largest e-commerce marketplace in Thailand, with full seller visibility. WeStore and YouStore are its main components for catering to large and small merchants and dealerships. WeLoveShopping has been marked as one of the top 12 e-commerce websites in the region.
Founded in 2001, Pantavanij primes as Thailand's premier Total Procurement Solution and was recently acquired into the portfolio of Ascend Group. C.P. Group, Ascend's parent firm, owns a 90% stake in Pantavanij with Bangkok Bank owning the remaining 10%. It offers business-to-business services, with portfolios extending from consulting, marketplace and government services. s Bangkok Bank Public Company Limited, Siam Cement, and Benchachinda Holdings, PLC forms its core corporate client, along with parent firms of Ascend Group, C.P. Group and True Corporation.
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