Unicorns, rhinos, zebras, cockroaches – it’s a startup zoo out there

Dear readers,

Unicorns, it seems, have lost some of their magic lately. Once a status symbol, the term is now derided as a mark of capitalistic excess.

Some animals – real ones – now want their moment to shine. For instance, companies called cockroaches are those that, unlike unicorns, strive to make money from day one.

There’s the zebra which, like the cockroach, wants to be profitable but also strives to be ethical and shape society in a positive way.

And lately, the rhino has been getting attention. Native to Asia, the bulky beast is pretty close to a unicorn – it has a horn, after all. But unlike the unicorn, it wants to be both big and profitable.

Despite the metaphorical zoo, I believe the unicorn has reached such ubiquity that it’s hard to slay. But we’ll see.

On to our recent content. The biggest news last week was Carousell’s merger with 701Search, which has earned the classifieds company a valuation of US$850 million. It’s easy to get fixated on the big number, so I broke down what it really means.

We also got the scoop on how Gojek is quietly laying the groundwork for its digital banking ambitions. It involves one Jerry Ng, who is set to become a powerful figure within the Indonesian unicorn.

Also, Steven Millward caught up with Jamie Lin of AppWorks, a startup accelerator that has survived a decade – a true rarity. It’s now set to take the next step through a partnership with Taiwan’s largest telco, Taiwan Mobile.

Check out the remaining premium content below, and as always, don’t forget to subscribe!

Startup spotlight

• Back from the brink: He fought back after startup lost all clients in PR crisis
• Rising startups on Tech in Asia: internet-connected cars, SaaS for workspaces, and more
• These payment industry veterans are taking Indonesian schools cashless

Investors and corporates

• Alibaba-backed TrueMoney wants to be Thailand’s everyday app for financial services
• The blockchain hype is over. So it’s the perfect time to invest, says this Singapore VC
• These are the most active investors in Singapore’s startups

Stuff you may have missed

• How ‘cloud kitchens’ will change the way we eat
• Ninja Van CEO talks profitability, deals with Grab, and pitfalls of the gig economy
• With its ‘new retail’ approach, Fore Coffee is taking Jakarta by storm

Cheers,

Terence
Chief editor