20 Southeast Asian startups that hit the jackpot

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Hello readers,

As an avid gamer, I’ve followed the professional scenes for the games I play ever since I could remember. Recently, there was some slight controversy over a player’s buyout clause, with some rumors putting the figure at US$10 million – an extremely high rate for the industry. Some called the team owner greedy, while others pointed out that the player was good enough to demand such a price.

While US$10 million might seem steep for gaming organizations, it’s nothing compared to what some companies fork out when it comes to mergers and acquisitions (M&A) deals. Today’s premium story lays out the biggest blockbuster M&A deals in Southeast Asia, with familiar names like Bukalapak and Lazada making an appearance.

Today we look at,

• The 20 biggest payouts for M&A transactions in Southeast Asia
• Singapore-based Doctor Anywhere lives up to its name with its acquisition of Thailand’s largest telemedicine platform
• Other newsy highlights including a fundraising win for NFT platform GuildFi and a jump in revenue for Tencent

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Premium summary

The windfall of a lifetime

With companies that have some of the deepest pockets in the world turning their gaze toward Southeast Asia, it seems almost inevitable that the region would see a strong inflow of M&A transactions. With deals of up to US$1.4 billion, the region’s startups are seeing a bright future ahead of them.

• Going public:
  Topping the list is Bukalapak, which stands out not only because it’s first up, but also because the US$1.5 billion it raised from its exit comes from its initial public offering earlier this year. This takes the company’s overall valuation to US$7.5 billion.

• Regional hub:
  Out of the 20 companies on the list, exactly half of them are based in Singapore. These include the likes of AI startup Bigo, ecommerce platform Lazada, and streaming service Viki. The M&A deals for the Singapore-based companies on this list are worth a combined total of roughly US$4.1 billion.

• Big backers, big wallets:
  Some of the biggest companies behind these M&A deals include China-based social media platform Joyy, which paid US$1.4 billion for Bigo in 2019, and tech giant Alibaba Group, which bought Lazada for US$1 billion in 2016.

Read more: 20 largest exits in SEA

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Startup spotlight

Forget Doctor Strange and get a real doctor

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