Sendo, along with homegrown marketplace Tiki, is competing with regional players like Lazada and Shopee for shares in Vietnam’s e-commerce market.

The digital sector is expected to contribute 30% to Vietnam's economy by 2030.

The merging would create a stronger firm capable of rivaling regional players such as Lazada and Shopee in Vietnam’s retail market.

Over the past five years, the country’s e-commerce market has doubled with total online spending increasing from US$3.9 billion in 2015 to US$9.4 billion in 2019.

Hanoi and Ho Chi Minh City would make up half of the country’s e-commerce revenues in the next five years.