A look into Singapore’s largest exits

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Hello reader,

“You may leave feet first, but leave you will, one way or another.” This statement is not really a reflection on life, but the central thesis of Bo Burlingham’s book Finish Big.

Burlingham contends that those who build companies from scratch are so focused on the “busyness of business” that they rarely think about their exit plans.

There comes a time when even the best companies have to be sold. Some founders want to get rid of the stress of day-to-day operations and are looking at retirement, while others want to cash in on their years of hard work. Or, in the case of serial entrepreneurs, they’re looking to take on their next challenge.

To that end, Tech in Asia has compiled a list of Singapore-based startups that have dashed for some of the largest exits in the country.

Today we look at:

• The 20 largest exits in Singapore
• An edtech startup that is simplifying the college hunt process
• Other newsy highlights such as an Indonesian bank that hit profitability for the first time in seven years, and an Indian quick commerce firm that has laid off 5% of its staff.

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Built to sell

Image credit: Timmy Loen

In recent years, technological advancements have reduced barriers to entry for startups. However, these young firms lack the necessary brand and human capital to scale, making them prime targets of M&A deals from incumbents. With the pandemic giving technologically advanced companies an edge over others, larger firms are under pressure to buy assets that can help them boost their businesses.

• M&A spree: The pandemic impacted the M&A market in Asia Pacific more than in other parts of the world. By Q3 2020, the market had set a record quarterly high. This upward trend continued into 2021, with the first nine months outstripping every full year since 2015 as Singapore saw US$892 billion invested across 3,802 deals.

• Some caveats: M&A transactions can be all-stock, cash, or a mix of both, so a high transaction value does not mean shareholders get good returns. Some deals are also made under irregular circumstances.

• Got them all covered: Singapore has seen its fair share of M&A deals over the years. Some have been blockbuster moves, while others flew under the radar. Our list includes big-ticket firms like Sea Group, Lazada, TradeGecko, and Lomotif.

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