News
GoTo stays focused on profitability even as its loss widens
Indonesia’s GoTo reported a loss of $2.6 billion for 2022, 56% higher than last year. However, GoTo’s 2022 revenue also doubled in the same time period. Read more…
super apps
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RIL’s Viacom18 is planning to create a video super app
Viacom18 is reportedly planning to create a new super app that will host its various digital streaming platforms, to take on Amazon, Disney and Netflix. Read more…
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Kakao is feeling the heat following massive service outage
South Korea’s Kakao suffered a massive outage over the weekend, triggering a sharp political backlash and calls for increased scrutiny on its market dominance. Read more…
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Why Elon Musk suddenly wants an ‘everything app’
Elon Musk is suddenly talking about creating an “everything app” based around Twitter once he owns it. He means a super app. But why does he want one? Read more…
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Grab promises investors it will be profitable by end-2024
Grab has been on a downward spiral since its SPAC merger in December, but CEO Anthony Tan told investors the firm aims to break even by the second half of 2024. Read more…
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Be Group gears up to challenge Grab’s supremacy in Vietnam
Ride-hailing competition in Vietnam is set to intensify as Be Group secures a $60 million loan from Deutsche Bank to challenge existing market leader Grab. Read more…
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Uber says it is not in fact exploring ways to bail from India
Uber has rejected a Bloomberg report claiming that it has explored exiting the India market, saying it has never considered such a move. Read more…
Views
Lyft is floundering as Uber thrives. The difference? It’s all about scale
Lyft and Uber had wildly different quarters revenue-wise. The reason is simple: in this business, size (and scale) really does matter. Read more…
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Gojek drivers organize to push back against the algorithms
As Gojek drivers feel the squeeze from the company’s algorithms dictating their work, they are turning to each other for support. Read more…
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GoTo IPO scores $1.1 billion, raises hopes for Indonesian tech
GoTo soars up to 23% in its market debut after its IPO raises $1.1 b, fuelling expectations of more unicorns from Indonesia’s tech sector. Read more…
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Grab and Sea plot comeback strategies as market caps nosedive
Grab and Sea Ltd sink to the bottom of the MSCI Asean Index and lose a combined $71 billion in market value. They have plans to get it back. Read more…
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Airasia Ride expands into Thailand, with Indonesia next in line
Airasia is set to expand across Southeast Asia’s ride-hailing market with the launch of its service Airasia Ride in Bangkok next month. Read more…
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Walled-garden super apps are not the future, warns Lazada CEO
Lazada CEO Chun Li says digital companies in SEA should steer away from creating walled-garden super apps, as this discourages competition. Read more…
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GoTo is pressing ahead with $1.25 billion IPO despite market tensions
GoTo Group plans to raise up to $1.25 billion through an IPO on the Indonesia Stock Exchange rather than jump on the SPAC bandwagon. Read more…
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Gojek adds MoMo payment option for Vietnam users
Gojek has announced a partnership with digital financial services platform MoMo to enable Gojek users in Vietnam to pay for their rides. Read more…
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MoMo targets Vietnamese SMEs in its super app quest
MoMo has become a leader in Southeast Asia’s fintech space as it aims to become the next big super app in the region. Read more…
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Sea adds mobility to Shopee app via Blue Bird taxi tie-up in Indonesia
Sea Ltd teams with with Blue Bird to launch a taxi ordering service in Indonesia, giving Shopee a mobility service to take on Grab and GoTo. Read more…
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Indonesian unicorn GoTo clinches $1.3b in first pre-IPO funding
Indonesian super app GoTo has raised over $1.3 billion in pre-IPO financing. Analysts say that makes it the country’s biggest tech firm. Read more…
Views
Super-apps are starting a new digital battle – will they deliver real benefits?
Super-apps are the next goal for the digital world, for the moment. As the number of apps rises above 3 million, something must change. Read more…
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Reliance begins work on super app; plans launch after clarity on new rules
Reliance, parent of India’s 4G-only telco Jio, is reportedly “refurbishing” JioApp into a super app to include multiple consumer offerings. Read more…