The company has been subjected to a brutal sell down recently on a market jumping at shadows. The market is questioning revenue generation levels and whether the company needs to raise capital. In our view, the market has lost sight of the huge potential in this infant company. It’s the largest player by turnover in South East Asia. As platform and logistics efficiencies are built in, profits will follow. Worth noting is its relative value to peers, such as VIP Shop (NYSE:VIPS).