Southeast Asia’s unicorns are now supposedly worth US$57 billion after the recent addition of four new companies to the exclusive club, but how realistic that figure is remains to be seen.Singapore’s Bigo Tech (streaming and social media), Trax (image-recognition), ONE Championship (media and sports) and Zilingo (e-commerce) all passed the US$1 billion valuation mark between September 2018 and September 2019, making for a total of 14 unicorns in the region according to a report released last
Southeast Asia’s internet economy has reached US$100 billion for the first time and is expected to triple by 2025.This year’s edition of the e-Conomy Southeast Asia report released by Internet giants Google, Singaporean sovereign wealth fund Temasek and global consultancy firm Bain & Company last week showed how Southeast Asia’s internet economy has more than tripled in size over the last four years amidst a fundamental shift in the way people shop, eat and get around. Southe
A Vietnam court Friday ordered ride-hailing app Grab to pay a cab company more than US$200,000 for losses incurred due to competition – a judgement blasted by the firm as "a giant step backwards" for the country's tech community.The Singapore-based app, which launched in Vietnam in 2013, has been embroiled in a lawsuit with Vinasun, a major taxi provider in the south of the country, since May 2017.
This year has been transformational for the ride hailing sector in Southeast Asia according to a recent joint report by Google and Singapore’s Temasek Holdings. With the merger of Grab and Uber in March, and the latter’s withdrawal of services from the region, Grab has consolidated its leadership in the sector.
In Southeast Asia, mobile banking is taking on a whole new meaning. Last week, Grab, one of the region's top ride-hailing companies, announced that users of its mobile application can start sending credits – used to pay for rides – to each other. By the end of the year, they'll be able to use those credits at more than one thousand restaurants and retailers.