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20. April 2024
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Tag: #growth

Retail Asia23/02/2024
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Startups

Grab chalks up first profitable quarter, but clouds loom

3min0
Grab Holdings reported its first quarterly profit on Thursday and unveiled a maiden share repurchase program, but the ride-share and food-delivery firm’s weak annual sales forecast fanned growth worries and weighed on its shares. While the Singapore-based company’s ride-share growth hit pre-pandemic levels in 2023, its food-delivery services is rebounding from a slowdown following a […]
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Retail Asia20/09/2023
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Startups

Singapore sneaker platform Novelship secures US$9.5 million in Series B

2min0
Singapore-based sneaker marketplace Novelship has bagged US$9.5 million in its Series B funding round led by East Ventures, iGlobe Partners, and GSR Ventures. The company said the new funds will be used to accelerate its expansion plans in Southeast Asia, including enhancing its logistics capabilities, refining authentication processes, expanding its slew of in-house collections, and […]
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Retail Asia16/08/2023
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Startups

Indonesia’s GoTo narrows losses and on track

3min0
Indonesia’s biggest tech firm GoTo on Tuesday said it had slashed underlying losses in the second quarter to US$78.25 million, down from $280 billion a year earlier, helped by intense cost-cutting measures. GoTo, backed by Japan’s SoftBank Group and Singapore’s sovereign wealth fund GIC, has implemented various cost-cutting measures including layoffs this year, as it […]
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Retail Asia22/06/2023
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Startups

Grab cuts 1000 jobs

4min0
Singapore-based Grab Holdings, Southeast Asia’s leading ride-hailing and food delivery app, is cutting 1,000 jobs or 11 per cent of its workforce, its CEO said on Tuesday, citing the need to manage costs and ensure more affordable services long term. In a letter sent to employees late on Tuesday and seen by Reuters, chief executive […]
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Retail Asia10/05/2023
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Startups

Education startup TEKY raises $5M from foreign investors

3min0
Education startup TEKY Alpha has raised US$5 million from Singaporean investment firm Sweef Capital to expand its operations. TEKY plans to expand its educational services at public schools and after-school programmes for children aged five to 18, Sweef Capital said in a statement. The startup, founded by Dao Lan Huong in 2016, delivers science, technology, engineering, […]
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Retail Asia21/03/2023
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Startups

Indonesia’s GoTo posts $201.9 million quarterly loss

3min0
Indonesia’s biggest tech firm PT GoTo Gojek Tokopedia Tbk posted a narrower adjusted EBITDA loss for the fourth quarter of 2022 of 3.1 trillion rupiah ($201.89 million), the firm said on Monday. GoTo posted 6.5 trillion rupiah in adjusted EBITDA (earnings before interest, tax, depreciation, amortisation and rent) loss in the same period of 2021. […]
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Retail Asia15/02/2023
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Startups

Foreign startups eye Vietnam’s young population

7min0
Foreign startups are eyeing Vietnam as one of their main markets thanks to the country’s large and young population, low costs and cheap and abundant labor force abundant. Vietnam has been among the top markets in terms of revenue for Singapore’s insurance startup Igloo ever since the company was launched in 2021. “Vietnam is becoming […]
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Retail Asia19/08/2022
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Startups

DTS launches platform for Vietnamese technology startups

5min0
DTS Digital Transformation Alliance has supported dozens of startups in technology, and is accompanying thousands of businesses through their digital transformation and journey into the Metaverse. In the global context of Industry 4.0, digital transformation is the biggest opportunity and challenge for businesses. To carry out digital transformation and develop successful technology schemes, Vietnamese startups […]
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Retail Asia24/06/2022
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Startups

Financial startup Anfin raises $4.8 mln

2min0
Financial startup Anfin, which seeks to make stock investment easy for any user, has raised funding of $4.8 million in a Pre-Series A round from a consortium of investors. It was led by angel investor Clement Benoit and U.S.-based startup accelerator Y Combinator. The money will be used to improve its app by building a […]
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Retail Asia06/05/2022
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Startups

Shinhan acquires 10 pct stake in Tiki

2min0
South Korea’s Shinhan Financial Group said it has reached an agreement to acquire a 10 percent stake in Vietnam-based e-commerce company Tiki. The South Korean group said its two units, Shinhan Bank and Shinhan Card, will pick up 7.44 and 2.56 percent stakes in Tiki, respectively. It has invested $90 million in the e-commerce player. […]
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Retail Asia13/01/2022
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Startups

Vietnam set to become Asia startup hub

1min0
Vietnam could be Asia’s next startup hub after local companies saw a funding surge over 40 times in the last five years, a venture capitalist said. Venture funding for startups in Vietnam reached $2.1 billion last year, up from just $48 million in 2017, Binh Tran, co-founder of Ascend Vietnam Ventures said. The sector is […]
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Retail Asia22/12/2021
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Startups

Indian online grocer Zepto secures $100 million investment

2min0
Indian on-demand grocery-delivery service, Zepto, has bagged US$100 million during its Series-C funding, taking its value to US$570 million within five months of its launch. Led by Y Combinator’s Continuity Fund, the round included investors Nexus, Breyer Capital, Global Founders Capital and Glade Brook, among others. The Series-C funding follows Zepto’s earlier funding round in […]
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