E-commerce was the first ‘killer app’ in Southeast Asia tech. Its emergence pulled forward the region’s digital infrastructure and venture investment ecosystem and paved the way for new digital business models.

Now, ten years on and profitable, e-commerce brings important validation and momentum to Southeast Asia’s tech sector at large. We believe this to be an important moment for start-ups, scale-ups, and investors alike.

In this whitepaper, produced in collaboration with DBS and the Digital Economy Group, we explore the evolution of e-commerce in Southeast Asia, its newfound profitability, and the sector’s current and future impact on the region’s broader tech economy.