Halalan Toyyiban's Aladdinstreet.Com Looks To Raise US$50 Mln In 6 Mths

KUALA LUMPUR, April 6 (Bernama) -- Aladdinstreet.com aims to raise US$50 million in the next six months to expand its business globally and enhance its advertising and promotions, says Co-Founder and President Desmond To. He said currently, Halalan Toyyiban's online marketplace had raised US$5 million with investors from Singapore, Hong Kong, Europe, Japan, the Middle East, China and the United States. "The expansion plan across 40 countries would be carried out in two phases with the first phase covering 30 countries in 18 months, providing an entry for some four billion customers, " he told reporters on the sidelines of the Malaysia International Halal Showcase (Mihas) 2017, here Wednesday. "The second phase will follow right after that and it will involve 10 more countries over six months," he added. Aladdinstreet.com has also signed on as Manchester United's (English football club) exclusive global partner for the next five years. "We are a fairly new company and to be competitive in the e-commerce space, we need to have an edge and partner a global brand like Manchester United which will give us that edge," he said, adding that the partnership would also allow the firm access to the club's worldwide fans. Aladdinstree.com would also partner other sport, for instance, cricket in Pakistan and India, and badminton in China," he added. If all goes as planned, the company would see a listing on the New York Stock Exchange by 2020. -- BERNAMA