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A Reuters report showed that the book-building process saw PropertyGuru shares offered at the lower end price of A$3.70. It gave the company a total A$1.16 billion ($790 million) market capitalisation, a valuation that analysts said was too frothy. Global Equity Research’s George believes that the company is, at best, valued at the lower-end. … Read more
However, the Vietnamese market is expected to contribute 29-33% of the group’s revenue in 2019 and 2020. With the considerable capital from KKR, PropertyGuru bought out its Vietnamese counterpart, Batdongsan.com.vn, giving it a 69% market share and the market leader position. The acquisition is a saving grace, as out of all the other markets in … Read more
Regardless, OLX and its “diverse experience” worldwide has provided strong input for Carousell, though Malani stresses its involvement is only at the board level rather than operational. It’s a similar situation with Telenor, which has board representation through investment executive Svein Henning Kirkeng and Johan Rostoft. The latter leads the telco’s online classifieds business and … Read more
Unlike Carousell’s new-age beginnings, 701Search has a far more orthodox origin story. It was born out of the digitisation of the listing business in SPH’s traditional print business. Since then, things have become a lot more complicated. Its acquisition by Telenor in 2017, for example, isn’t exactly what it may seem on the outside. Telenor … Read more
This “growth stage funding gap” is something that Southeast Asia’s VCs in are looking to tap into by raising larger funding vehicles—sometimes in the hundreds of millions. Jungle Ventures raised its October 2019 $240 million fund with this in mind, as did Singapore’s Vertex Ventures ($290 million). “This is why we cannot do it ourselves … Read more
“The level of support was incredible. In particular, it was very hands-on during demo week,” one investor whose portfolio company took part in the programme remarked. “No other programme has the access and reach to connect young entrepreneurs with industry stalwarts from across the world,” said another investor. “They get to meet some of the … Read more
For all of Zilingo’s forward-thinking focus on seller services and the supply chain, the company isn’t shedding its e-commerce skin. E-commerce is overcrowded. In Southeast Asia, it is a capital-intense affair that features heavyweights like Lazada—the general e-commerce platform owned by China’s Alibaba—and Shopee, the online marketplace that belongs to Sea, the NYSE-listed firm valued … Read more
The most visible side of Zilingo is its e-commerce marketplace through which sellers, typically small businesses, reach consumers. The focus is on Southeast Asian markets like Indonesia, Thailand and the Philippines, plus India and the US through a global site. Today, the company claims to work with over 50,000 merchants and brands. But it is … Read more