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Hi readers,
Can you believe it’s been eight years since the term “unicorn,” which describes a startup with a valuation of US$1 billion or higher, was coined? We’ve come a long way since then, with new entrants joining the club every year – Southeast Asia now has 32 of them.
(As a Dallas Mavericks fan, I just want our own “unicorn” – Latvian forward Kristaps Porzingis – to live up to that moniker a little more.)
Our featured premium story today features some important facts about these firms: where they’re from, who invested in them, and what they’re worth.
Today, we look at:
- Southeast Asia’s unicorns and who’s backing them
- Bukalapak’s promising first set of numbers after its IPO
- Other newsy highlights such as the logistics startup looking to raise big money from Tencent and Secretlab’s big research and development plans
PREMIUM SUMMARY
A snapshot of the region’s unicorns
Humor me for a minute: Unicorns are companies that are valued at US$1 billion or higher. Decacorns are those valued at US$10 billion or more. As for the true titans worth US$100 billion and above, they’re called hectocorns.
That’s lame. They should’ve gone with pegasus (“pegasi?”) at some point. Wings and the ability to fly are way cooler than a horn.
- Good examples: A host of Southeast Asian startups have broken into this elite unicorn club, spurred by the success of companies like Sea Group, Gojek, and Grab.
- Magic Johnson: The region currently has 32 such unicorns (which also includes a number of decacorns), according to Tech in Asia’s analysis. These include the likes of VNG, Traveloka, and Razer.
- Banner year: 2021 has been a record year for startups in the region, with at least 13 companies hitting the US$1 billion mark this year.
Read more: A list of Southeast Asia’s unicorns and their early investors
STARTUP SPOTLIGHT
A promising start to public life for Bukalapak
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