Firstly, what is a Unicorn? In the startup industry, a Unicorn is a term used to describe a company with the potential of a growing value of over $1 billion.
Back in 2014, Southeast Asia only had 3 unicorn startups: VNG, Sea (Garena, Shopee), and Razer. Fast forward to today, the region has more than 20 unicorns.
Here are a few examples:
Value: $40 Billion
Started off as a ride-hailing app but has expanded into other services such as food delivery, digital payments, and financial services. This strategy has allowed them to tap into a growing market for digital services and become Southeast Asia’s most valuable startup.
Value: $10 billion
A motorcycle ride-hailing app in Indonesia that expanded into other services such as food delivery, payments, and logistics. Gojek has leveraged its extensive network of drivers to become a dominant player in the region’s digital economy.
Value: $4 billion
An Indonesian e-commerce platform has focused on providing access to digital services to Indonesia’s growing middle class. By offering a wide range of products and services, Bukalapak has become a popular destination for online shopping in Indonesia.
Value: $2 billion
Started as a travel booking platform, has also succeeded by focusing on the unique needs of Southeast Asian consumers. By offering a range of travel services tailored to local preferences, such as flexible payment options and localized content, Traveloka has become Southeast Asia’s largest online travel company.
One of the factors contributing to the success of these companies is the region's substantial population surpassing 650 million with a growing number of internet users - this offers startups enormous market potential and opportunity. According to a report by Google, Temasek, and Bain, the digital economy in Southeast Asia is projected to reach $300 billion by 2025.
Founders can add their startups to the billion-dollar club and investors can become a part of the future unicorns with angel investing networks and syndicates.
Southeast Asia's Angel Investing Syndicate Network
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*The information contained in this article is provided for informational purposes only, and should not be construed as legal advice on any subject matter.