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Hi readers,
Covid-19 has dampened my mood lately. I constantly hear and see the struggles of people near and far getting snagged into this storm of a pandemic. For a brief respite from this gloom, I recently turned to watching Studio Ghibli movies.
The imaginative stories and well illustrated scenic beauty of Japan’s countryside just whisks me away into another world. The details and the everyday simplicity of these stories just makes me feel grateful for the smaller things in life that we take for granted – like how we have delivery services today that can get us anything we want right to our doorstep.
Logistics startups such as Ninja Van make this possible for us by allowing even small and medium-sized businesses get their products to customers. So I decided to explore the details of this startup to find out what makes it tick and how well it is doing.
The revenue of the Singapore-based logistics startup grew by over 3x in the financial year ending June 2019 compared to a year earlier, while its operating loss more than doubled during the same period.
While these numbers reflect pre-Covid-19 market conditions, ecommerce has since seen a post-pandemic bump, which could drive up Ninja Van’s earnings.
However, competition in last-mile logistics has been stiff for Ninja Van, with competitors such as J&T Express and SiCepat Ekspres raising big rounds of funding recently. This could put pressure on the company’s bottom line.
While Ninja Van’s revenues and gross margin seems to be on the right track, it remains to be seen how the logistics startup will cope with these challenges.
Since it’s a Sunday, I will be watching another Studio Ghibli movie. Let me know which is your favorite.
— Collin Furtado, News Editor at Tech in Asia
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