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fmc4me With Hose’s Silicon Valley background and connections, Coins built a robust tech platform. It had a superior user experience to GCash, with the Mynt executive mentioned above admitting that “Coins’ app three years ago was our app today. Analysis of Billionaire’s Investment in Indonesian Startup Industry Its rivals, meanwhile, were bogged down by corporate cultures … Read more
This explains the apparent absence of Coins’ QR code payments in physical establishments such as malls and restaurants. QR code payments require investment from the providers. Typically, big merchants need hardware like a specialised point-of-sale (PoS) machine that’s integrated with their traditional PoS system to scan customers’ dynamic QR codes—generated by mobile apps. Reading Between … Read more
Besides GCash and PayMaya, Coins is up against a formidable challenger in the form of Gojek’s arch-rival Grab. The Singapore-based company has a virtual monopoly over ride-hailing in Southeast Asia. Its digital wallet GrabPay claims to have seen high double-digit growth in active Filipino users. Interestingly, Grab swooped in with a larger proposal for Coins … Read more
To address this situation, VCs seem to be gearing up to back their existing portfolio companies with bridge rounds or small inside rounds to help them stay afloat for the next 12-18 months. Following Sequoia’s lead, every major VC in India is advising firms to conserve cash and raise as much money as they can … Read more
But like their large consumer startups brethren, these startups might also face valuation and funding challenges sooner or later. “When startups have capital, they don’t feel the need to push the envelope; there are many that can be profitable but choose not to. Now that will change,” echoed a prominent Singapore-based VC, who wished to … Read more
Other than startups that sell enterprise solutions in the hospitality sector, no other startup that us spoke to reported any significant dip in business. But all these startups were cognizant that it is likely to be just a matter of time. These startups are soon expecting slowing growth and delays or cancellations in sales. Customers … Read more
As consumer activities drop, large-scale layoffs are not just a possibility but simply inevitable. The fact that a lot of people are already out of work or face being permanently laid off will shrink discretionary spending with folks saving money for tough days ahead and restricting spending to healthcare and disaster preparations. Across the board, … Read more
One could reasonably expect these Sequoia-backed players to be the last ones standing. Sequoia is currently investing out a flagship $8 billion fund that is by far the largest amongst its peers and to wit, it would be almost impossible to find a Sequoia-funded startup that has died due to starvation. And yet, it published … Read more
On the podcast, Makarim slips into soccer parlance, describing some key individuals at the firm, such as himself, as strikers—the players who score the goals and take risks—while there are others, including merchant head Suliawan, who he sees as defenders. With Makarim moving into politics, Gojek loses one of its most prominent strikers, and an … Read more
It wasn’t until around 2014 that Haryopratomo and Suliawan urged Makarim to go full time with Gojek. It was a good year. Cab company Uber picked up speed; started its Southeast Asian expansion. It launched in Jakarta in August that year. Elsewhere, the Malaysian taxi aggregator app GrabTaxi—now known simply as Grab—had already launched in … Read more