Top 10 E-commerce Companies by Market Capitalization in Asia, Early 2025

According to Companies Market Cap data, Alibaba is the most valuable e-commerce company in Asia. The market capitalization of the Chinese company reached US$199.15 billion on January 9, 2024.

Pinduoduo follows with a market capitalization of US$139.32 billion, followed by Meituan at US$111.53 billion. These top three e-commerce companies are all from China.

Below is a list of the top 10 e-commerce companies in Asia by market capitalization as of January 9, 2025:

1. Alibaba (China): US$199.15 billion
2. Pinduoduo (China): US$139.32 billion
3. Meituan (China): US$111.53 billion
4. Sea/Garena (Singapore): US$62.80 billion
5. Jindong Mall (China): US$56.05 billion
6. Rakuten (Japan): US$12.73 billion
7. JD Health (China): US$11.65 billion
8. Monotaro (Japan): US$8.12 billion
9. Vip Shop (China): US$6.74 billion
10. Alibaba Health Information Technology (Hong Kong): US$6.70 billion

Meanwhile, Indonesian e-commerce company GoTo ranks 11th in Asia with a market capitalization of US$5.79 billion.

Bukalapak ranks 45th in the region with a market capitalization of US$0.77 billion. Its value has plummeted by 75% since the company (stock code BUKA) went public in 2021.

Bukalapak also officially closed its marketplace services starting Thursday, January 9, 2025, and will shift to selling virtual products such as data packages, electricity tokens, loan installments, and others.

"Changes in market dynamics and competition in the related industry have prompted us to make long-term strategic adjustments to maintain the company's sustainability and relevance in the future," wrote Bukalapak on its official website on Thursday, January 9, 2024.