Welcome to On the Rise! Delivered every Tuesday via email and through the Tech in Asia website, this free newsletter breaks down the biggest stories and trends in emerging tech. If you’re not a subscriber, get access by registering here.
Hi there,
Recently I traveled to Mumbai and while booking my flights, I was thinking about how easy and convenient it has become to do so with online travel agency (OTA) platforms. Before their arrival, we had to physically go to a local travel agent’s office. There was little transparency and choice except what was given to us by the agent.
That changed after OTA platforms emerged in India, and I remember how exciting it was for me to book my first ticket online. OTAs made the whole process seamless.
Likewise, in Indonesia, Traveloka has influenced the way many people make travel reservations since it came out in 2012. In today’s Big Story, my colleagues Budi and Mujahid chart out the unicorn’s journey from an OTA to a lifestyle super app. More importantly, they highlight the key people behind the steering wheel who enabled Traveloka to travel so far.
Speaking of steering wheels, in the second Big Story, my colleague Nikita takes us on a drive with Zoomcar, which is looking to chart a course for Nasdaq. The India-based Airbnb for cars plans to list via the SPAC route and says that it’s not really concerned about the bear markets, which have seen valuations plummet.
The bear market brings us to worries about the impact of the recession, for which I speak to seasoned entrepreneur and investor Zhou Wei about his plans for 2023. The founding partner of China-based VC firm CCV bets on smart tech – which combines autonomous tech, AI, and robotics – to be the next platform for growth in the next decade. More on this in Making Waves.
— Collin
THE BIG STORIES
1️⃣ Org Chart: The people bringing Traveloka to life
Image credit: Timmy Loen
We look at the team behind the Indonesian unicorn, which has transformed from a traveltech platform into a lifestyle super app.
2️⃣ Nasdaq-bound Zoomcar takes SPAC route despite bear warnings
Image credit: Timmy Loen
Making Waves
NEWS YOU SHOULD KNOW
FYI
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
