11street has strong growth in Malaysia

Since its launch in April 2015, 11street Malaysia has rapidly grown. The company claims to have become a first tier eCommerce provider of an open-market platform with 40 thousand listed sellers, 13 million registered products for sale and 16 million monthly visits.

Tinuku 11street has strong growth in Malaysia

"We are very pleased with the success and progress that 11street Malaysia has made in less than 3 years since its launch and we are confident that we will be #1 marketplace in Malaysia within the next 3 years," said Hoseok Kim, CEO of Celcom planet.

Kim said by email to the Tinuku.com editors that the company is currently looking at various strategic options including funding from strategic partners to prepare for the next phase of accelerated growth.

On a recent statement by Celcom planet, a provider of 11street Malaysia, the company stated that the shareholders remain aspirational on the growth potential of 11street Malaysia and are confident in the continued success in the Malaysian e-Commerce market.

The company also denied previous reports saying that SK Planet will withdraw from eCommerce market in Malaysia as the sale of shares in Elevenia plartform operating in Indonesia to Superb Premium Pte. Ltd.

"Recently, SK planet has made a strategic decision to pick and choose battlegrounds where we can win and Malaysia is the battlegrounds, one of the fastest growing and infrastructure-ready eCommerce markets in South East Asia," said Sungwon Suh, CEO of SK planet.