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Hi there,
Welcome to the first edition of On the Rise, Tech in Asia’s newsletter on the emerging tech ecosystem. Every week, we promise to deliver a deep dive and the must-knows from sectors such as healthtech, edtech, foodtech, gaming, software as a service, and more.
There’s a ton happening in the world of startups, and our goal is to help you navigate this fast-paced world where opportunities can lurk just around the corner. Take the case of Grab and its growing mafia network, for example.
Our data shows how there’s been an uptick in the number of Grab’s alumni founding startups since 2018, the year that the company acquired the Southeast Asia operations of former archrival Uber. In a report with lots of charts in play, my colleague Tian Wen shows that though Grab’s alumni are spread out across 21 sectors, the super app’s mafia is relatively smaller than its Southeast Asian peers.
Besides the usual suspects, a fair number of these startups are also in the Web3 space. As our Big Story for the week points out, tapping into this mafia network could present new opportunities for Grab.
But opportunities often come laden with their own set of risks. Case in point: China’s gaming market has 666 million players that spend an average of about US$68 each on video games. No wonder it’s the most lucrative gaming market in the world.
But amid government restrictions, licensing guidelines, and ongoing layoffs, the industry is going through a trial by fire, as we discuss in this week’s Hot Take.
— Nikita
THE BIG STORY
Meet the growing ranks of the Grab mafia
Image credit: Timmy Loen
As Grab alumni founders grow in number, can the company catch a second wind by tapping into them?
THE HOT TAKE
Trial by dragonfire for China’s gaming industry
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