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Nonetheless, the feature has opened Amazon up to the region’s highest spenders and those already aware of its service. It may also provide valuable high-level insight into Southeast Asian countries—and gain traction with merchants in major markets—before Amazon embarks on its local service expansion. In countries where e-commerce is still in its infancy, where average … Read more
Go-Jek meanwhile, has taken a distinctly different route with its GoVentures fund. “GoVentures is an independent venture capital fund, focusing on investments and partnerships with early-stage technology businesses in Southeast Asia,” a spokesperson said via email. Go-Jek added that the fund was sector-agnostic. Like Grab, the central thesis is to find and support companies that … Read more
“The relationship potentially limits the company’s trajectory if you’re starting to get tied to one of these ride-hailing companies’ platforms,” the industry source added. “It possibly makes it tough to find acquirers in the future as you’re more dependent on that platform.” Still, the deal was vital for HappyFresh, which operates in a business with … Read more
The Kudo-Mapan deals echo the Alibaba-Tencent rivalry. It is often said that the Chinese companies will make certain deals to ensure they offer a counter service to whatever their rival bought or invested in. But it isn’t just counter-attacking. Grab and Go-Jek have gone head to head over acquisitions. Like Coins.ph, a Naspers-backed fintech startup … Read more
Google and Microsoft, too, find themselves on opposing sides. Both have poured over $100 million into the duo—Google in Go-Jek and Microsoft in Grab. The size of these deals hasn’t been previously reported. At this point, Grab and Go-Jek have become the de-facto gatekeepers to Southeast Asia’s digital economy. Companies entering the region are flocking … Read more
The NPCI and its steering committee members—which include banks and rivals like Paytm—want to charge a commission for this move. They even proposed a fee structure, where the customer pays up to 1% of the transaction amount as a fee to the merchant, the app, and the banks involved. The NPCI’s logic for charging this … Read more